This paper argues for reconsideration and reevaluation of the underlying assumptions and paradigms of the world
capitalist system in particular and that of economics in general. This is against the backdrop of an increasing discontent of
majority of the world’s people against the growing inequality between the rich and the poor. It contends that the genesis of
the problem is rooted in the concept of the selfish, individuated economic man, which has fueled our appetite for greed,
selfishness and unbridled primitive capitalist accumulation. Thus these clannish and narrow assumptions must be relaxed
to bring in the more altruistic, non-material components of man. This new philosophy and concept of our economic man
incidentally aligns with the principles of Islamic banking, a variant of non-interest banking. But it cautions that the
imperatives of citizen education and a de-emphasis on religious sentiments are central to guaranteeing the success of the
programme.
Nwosu, C., (Corresponding, L , Calabar, U & , L (2019). A Case for Non Interest Banking in Nigeria amidst the Collapsing Paradigms in the Global Economy. Afribary. Retrieved from https://track.afribary.com/works/a-case-for-non-interest-banking-in-nigeria-amidst-the-collapsing-paradigms-in-the-global-economy
Nwosu, Chukwunwike, et. al. "A Case for Non Interest Banking in Nigeria amidst the Collapsing Paradigms in the Global Economy" Afribary. Afribary, 01 Feb. 2019, https://track.afribary.com/works/a-case-for-non-interest-banking-in-nigeria-amidst-the-collapsing-paradigms-in-the-global-economy. Accessed 25 Dec. 2024.
Nwosu, Chukwunwike, Lionel (Corresponding , University Calabar and Lokoja . "A Case for Non Interest Banking in Nigeria amidst the Collapsing Paradigms in the Global Economy". Afribary, Afribary, 01 Feb. 2019. Web. 25 Dec. 2024. < https://track.afribary.com/works/a-case-for-non-interest-banking-in-nigeria-amidst-the-collapsing-paradigms-in-the-global-economy >.
Nwosu, Chukwunwike, Lionel (Corresponding , University Calabar and Lokoja . "A Case for Non Interest Banking in Nigeria amidst the Collapsing Paradigms in the Global Economy" Afribary (2019). Accessed December 25, 2024. https://track.afribary.com/works/a-case-for-non-interest-banking-in-nigeria-amidst-the-collapsing-paradigms-in-the-global-economy