Indo-Turk: Economic And Energy Dynamics
Author(s)
Hasnain Javed , Saba Fazal Firdousi , Dragana Ostic ,
Download Full PDF Pages: 52-62 | Views: 1668 | Downloads: 374 | DOI: 10.5281/zenodo.3484196
Abstract
as soil transforms its own language into the culture, heritage, mythology, epistemology, and anthropology in a similar way, economics reflects structure and trends to shape society by interconnecting and socializing. Since the evolution of the human world, there is a tug of war between scare natural resources and societal need. But, unfortunately, conventional theories of economic growth had laid less emphasis to counter this dilemma in the context of energy as a natural resource in economic development. Despite its utmost need in both developed and developing the world. This article will reinterpret and shed light on philosophical ideas put forth by Ibn Khaldun and Katuilya Chanakya on economic growth theory for sustainable economic development. Their respective thoughts will be used as an amalgamated tool for proposing an economic and energy dynamic model for integrated Indo-Turk relationships in the long run. Ibn Khaldun theory of economic development addressed the economics of humanism and justice in contrast to Katuilya presented science of material gain that societies can achieve by having strong administrative control. All the economic dimensions by Ibn Khaldun were given as participant observer who was later used by Classical, Neo-Classical and Keynesian economists as main ingredients in formulating their refine economic growth models. On the other hand, Katuilya presented peripheral idealism to govern a state being a neutral deprived observer in an imaginative state of the world. Thus, both these interrelated intellectual thoughts help in sketching a conceptual framework based on humanistic and sustainable economic and energy development growth model along with affirmative policy implications for fruitful Indo-Turkic relationships. This paper summed up by doing a comparative and critical analysis of economic and energy dynamic models applied in other economies followed by recommendations and conclusion.
Keywords
Integrated economic growth, Economics of humanism, Science of material gain,Energy dynamics.
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