Classical is wrong when they underline the assumption that there is perfect information in the market.
Even though there is information in the market, it does not mean
everything will be revealed by the companies. Therefore, we are
actually having imperfect information in the market.
Due to this problem, what should we do?
That's why, we need to understand the real causes of economy crisis and
effects. Financial institution, stock trading and bond create
uncertainty in the market as they are framed by the interest rate and
some sort of speculation activities. This is due to profit maximization
In micro perspective, the concept of triple
bottom line need to be emphasized. Economics (profit), social and
environment must be considered during the development and production
The problem is people have their own self-interest.
Having self-interest doesn't mean it is bad totally. It needs to be
liaised with the objective of shariah. Self-interest or group interest?
Utilitarianism or universal principle?