History

Introduction

The framework assumed that these perceptions are likely to influence human behavior in a systematic manner that need to be analyzed but is neglected by contemporary mainstream economics. The study presented a complete theory, developed mathematical models, prepared many sets of questionnaires covering hundreds of variables and conducted many empirical analyses. A number of dissertations have been produced so far at Master's, M.Phil and PhD level. The studies incorporate religiosity, spirituality, ethics, values and reinforcement into economic models.

These tools of analysis followed by a series of scientific articles based on this framework were later termed as ‘Divine Economics’ that is defined as ‘the study of economics and religion in each other’s perspective using scientific process’. Prof Richard B Freeman of Harvard University was among the three international economists who evaluated this dissertation. According to his remarks, the dataset of Dr. Hamdani’s study was the largest dataset of the world on religion and economics at that time (October 2004). Based on the same work, Labor & Work life Program (L&WP), Harvard University offered Dr. Hamdani a prestigious Wertheim Fellowship from June to September 2006. He extended the Divine Economics Framework to apply it on analysis of victims and relief providers of a disaster. Under the framework a comprehensive disaster analysis emerging from inside view. For this purpose he also conducted a survey in earthquake affected areas of Pakistan and Azad Jammu & Kashmir with the financial support from L&WP, Harvard University. Later on a number of economists applied this framework or used Divine Economics Survey data sets for diverse analysis for example see [Progress in Divine Economics ].

Development of Religiosity Scales

Since the validity of faith-based economic modeling crucially depends upon the measurement of religiosity of individuals, Dr. Hamdani’s contribution is notable as he attempted to quantify multidimensionality of human’s religious and socio-economic behavior through ‘religiosity Scales’ for economic analysis and gaining popularity everywhere. The Higher Education Commission’s approved national curriculum of economics includes some sections/parts based on his work.

Extension in Divine Economics

The data sets emerging from Divine Economics Survey series starting from 2000 to 2016 are now being used for analysis by experts of variety of disciplines especially economics who are extending the doctrine of Divine Economics. Recognizing the same contribution, the London School of Economics has invited Dr. Hamdani and a number of scholars in different countries have contacted. Many dissertations at Masters’/M.Phil/PhD level are based on Divine economics framework. Due to its multidisciplinary nature, the work is being extended in various dimensions.

Universal Values

A new classification of universal values has been proposed under this framework. Also, a new short list of universal values has been developed using the key criteria of Divine Economics Approaches. Read More

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