Doctrine Values and Economic Advancement: A review of recent studies

Abstract

The economics has faced and passed from different phases of development, growth, and advancement throughout its whole life. Now it has entered into a modern phase of progress. But the problems such as poverty, social injustice, unemployment etc. are not solved yet. The existing and prevailing models of economic innovation which were discussed in recent studies and literature did not direct the way towards the peace and prosperity in the world, but these models of economic development have created new problems such as decline of natural resources, environmental pollution and shortage of labor, and conflicts among different fields of life etc. This is due that these economic models are not based on social, religious and economic doctrine values. The findings indicate that there are need and demand of a new economic model which will be based on that social, religious and economic doctrine values which are common in the religions. The modern economists of East and West should play their role in the formation and application of new values based economic model. The economic advancement can never be done without such an applicable values-based model in the whole world.