Develop into a Grasp of Finance with Harvard Professor Mihir Desai (with Lewis Howes)

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Obtain podcast episodes per week early! http://www.lewishowes.com/pod Thanks for Watching this highly effective video with Mihir …

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33 COMMENTS

  1. Mr. Howes. I love how in your videos you are a great listener. One of the greatest gifts you give us is how to listen. I’m sure you have this compendium of great useful knowledge that very few people have, yet you listen and listen and listen; it’s admirable that You’re not showing off your great stores of knowledge. I learn as much from your guest as I do from watching you listen.

  2. Economics suffers badly from the fact that it is a science that lacks the protection from the prestige gained from aging, as is the case with physics which results from repeating experimentation every time which emphises the foundations of that science in different, varied, and surprising ways. And all reinforce that science.

    The author Walid Ahmed Kamal Al-Hababi, in his book "The Economic Risk Theory" (the Islamic Macroeconomic System), deals with achieving maximum benefit, detailing the new economic system, which is called the "risk" system in which wealth is distributed to everyone, as it is a stable and more efficient system than the system of free market.

    In his book "The Theory of Economic Risk" (The Islamic Macroeconomic System), the author believes that the basic idea of ​​this book is to clarify the idea of ​​how to use the principle of time preference in imposing taxes, in order to motivate everyone to invest and raise productivity through tax.

    He also touched on the state's duties regarding its implementation and the extent of its participation in the market accurately.

    The author spoke of the zakat banks as the state budget, while the state budget remains the most controversial point among policy makers in countries.

    At the same time, the writer believes that while economic writings are scarce from a total point of view, there is no writer who spoke about a holistic Islamic economy as a previous system; So this is the only writing, up to the moment.

    You cannot change a system by fighting the existing truth, as Muslim economists always do, but to change something, you must create a model that makes the current system an outdated system. furthermore If we know that this system achieves the highest rate of spending in a country without need for other economic resources – without taxes or anything else – thus we can see that we are facing unique writings. Whereas, it lays out clear features for the Islamic economy that distinguish it completely from the socialist and capitalist economies, and not a fabrication to be similar to either of them.

    And he affirms that with this system, other systems will not be able to catch up with our economic progress, no matter what efforts are made, except to implement it.

    On the other hand, he believes that we will not be able to catch up with the West economically with the current systems, no matter what we try.

    Finally, the author asserts, that economics is the only thing that clarifies the purpose of Islamic customs and rituals apart from their devotional meaning in human life. So that it can be proven without doubt that it is indispensable for a person to perform it such as Hajj, Zakat, prayer … etc.

    He also confirms that all of this is found in the book (The Theory of Economic Risk) in this book issued by the House of “Yemeni Books” for printing, publishing and distribution within 305 pages and distributed in three main chapters, that this Islamic macroeconomic system is; He is the one who will bring us the maximum benefit
    يعاني علمُ الاقتصادِ بشدةٍ من أنه العلمُ الذي يفتقدُ إلى الحمايةِ التي تُؤمنها الهَيبة المكتسبة من تقادم العمر، كما هو الحال مع علمِ الفيزياءِ الناتج عن ترسيخ التجربة المتكررة في كلِ مرة للأسس بطرقٍ مختلفةٍ، ومتنوعةٍ، و مدهشةٍ. وجميعها تعززُ مكانة ذلك العلمِ.

    وتناول المؤلف وليد أحمد كمال الحبابي، في كتابه" نظرية المخاطرة الاقتصادية" (النظام الاقتصادي الكلي الإسلامي) تحقيق المنفعة القصوى، إيراد تفاصيل النظام الاقتصادي الجديد ، والذي يسمى نظام "المخاطرة" والذي تتوزع فيه الثروة على الجميع ، باعتباره نظاماً مستقراً أكثر كفاءة من نظام السوق الحر.

    ويرى المؤلف في كتابه" نظرية المخاطرة الاقتصادية" (النظام الاقتصادي الكلي الإسلامي) تحقيق المنفعة القصوى، أن الفكرة الأساسية لهذا الكتاب تكمنْ في توضيح فكرة كيفية استخدام مبدأ التفضيل الزمني في فرض الضريبة، وذلك لتحفيز الجميع على الاستثمار ورفع الانتاجية من خلال الضريبة.

    كما تطرق الى واجبات الدولة بخصوص تطبيقه ومدى اشتراكها في الأسواق بدقه .

    وتحدث المؤلف عن أن مصارف الزكاة تعتبر هي موازنة الدولة، فيما تظل موازنة الدولة هي النقطة الاكثر جدلا بين صانعي السياسات في البلدان.

    وفي الوقت نفسه يرى الكاتب أنه فيما تندر الكتاباتُ الاقتصاديةِ من ناحيةٍ كلية، ولا يوجد كاتبٌ تحدث عن اقتصادٍ إسلامي كلي كنظام سابقًا؛ وبالتالي فهذه هي الكتابة الوحيدة، حتى اللحظة.

    ويضيف لا يمكنك تغيير نظام بمحاربة الحقيقة القائمة، كما يفعل ذلك الاقتصاديون المسلمون دوما ، ولكن لتغيير شيءٍ، يجب عليك وضع نموذج يجعل النظام الحالي نظام عفا عليه الزمان؛ فإذا علمنا أن هذا النظام يحقق أعلا معدل إنفاق في دولة بلا موارد اقتصادية_ دون اللجوء إلى ضرائبٍ، أو غيرها_ فحينها يمكن أن نرى أننا أمام كتاباتٍ فريدةٍ من نوعها؛ حيثُ أنها تضع للاقتصاد الإسلامي ملامحًا واضحةً تميزهُ تمامًا عن الاقتصادين الاشتراكين و الرأسمالين، وليس تلفيقًا ليشابه أحدهما.

    ويؤكد أنه بهذا النظام لنْ تتمكن الأنظمةُ الأخرى من اللحاقِ بتقدمنا الاقتصادي مهما بذلت من جهود سوى تطبيقه.

    وعلى الجانب الآخر يرى أننا لن نتمكن نحنُ من اللحاق بركب الغرب اقتصاديًا بالنظم الحالية مهما حاولنا.

    وأخيرًا يجزم المؤلف، إن الاقتصاد هو الشيء الوحيد الذي يوضح الغرض من العاداتِ والعباداتِ الإسلامية بعيدًا عن معناها التعبدي في حياة الإنسان؛ بحيث يثبت بما لا يدع للشكِ أنه لاغنى للإنسان عن القيام بها من حج، وزكاة، وصلاة… الخ.

    كما يؤكد أن كل ذلك نجدهُ في كتاب ( نظريةُ المخاطرةِ الاقتصاديةِ) في هذا الكتاب الصادر عن دار "الكتب اليمنية" للطباعة والنشر والتوزيع ضمن 305 صفحة وموزع على ثلاثة أبواب رئيسية ، أن هذا النظام الاقتصادي الكلي الإسلامي؛ هو الذي سيحققُ لنا المنفعة القصوى..
    ..
    ,,لتنزيل نسخة مجانية من الكتاب
    https://www.mediafire.com/file/tvpyra7ojgvocbc/الاقتصاد+الكلي+الاسلامي.pdf/file

    لمشاهدة لقاء مع المؤلف حول موضوع الكتاب يرجى زيارة الرابط التالي
    https://youtu.be/GnFWgDlzWt0

    ارجوا ان يتم وضعه كمادة تدرس في المنهج الدراسي لطلبة الاقتصاد في الفصل القادم
    وشكرا..
    . . .. .. .

    And thanks alot
    ..
    …..

  3. This video, like many of your others, has really resonated with me. It has simplified what previously seemed intimidating and difficult to understand: money management and its very basics.

  4. I love this professor, but the truth, in my point of view, the considerations of finance from his view serves only rich people. Because we do have so many people who do not have enough food on the table. I am not dismissed his view. I am just saying it runs way more beneficial when you are financially stable. Also, he teaches at the best school Harvard, so all of his students are rich, bright and have power; so his environment provided him with a more favourable outcome.

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  6. Wow, I didn't know who Prof. Mihir Desai was until your show. He's definitely one of the best guests and teachers. So first, thank you so much for bring him in and introducing such a wonderful teacher to us, Lewis. Secondly, I have followed your showed for a long time and have been enjoying your work. It's my first time ever leaving comments on anyone's video but I think since you want to build up a brand as a principal in the School of "Greatness," you might appreciate some mindful feedback. Honestly, in this interview, Lewis didn't show up as the best and most respectful interviewer. Starting from the beginning while I was intrigued by Professor's intelligence and elegancy, I was shocked and disturbed by how you mispronounced your guest's name, your personal attack on his race and general assumption on Harvard students, etc.. Some of the questions and comments just felt out of alignment and underpreparation. We will just expect something kinder and wiser from you. I believe you probably didn't do it consciously but that's something to learn in this global world. Hope you take the feedback mindfully. Keep on the good work!!

  7. Beg to differ with Mihir. It’s possible to pick stocks. Buffett didn’t become greatest investor by getting good deals or through influence as he speaks. But agree 99% out there cannot make it big picking stocks. It’s a game where you win going against the herd mentality . Tough game!!

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