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The purest form of monotheism of Islam, as well as the Islamic teaching that all Muslims are equal before God, provides the basis for a collective sense of loyalty to Allâh that transcends class, race, and nationality. Islamic community does not take its name after the name of a leader, a founder, or an event. It transcends national borders and political boundaries. All Muslims belong to one community, the umma, irrespective of their ethnic or national background. The foundation of the community in Islam is the submission to the Will of Allâh. An Islamic community is present only when it is nourished and fostered by Islam. A truly Islamic community is the alert guardian of virtue and the bitter enemy of vice. What is required of the community at large is likewise required of every individual member. This is because every individual is accountable to Allâh and the whole community is a single organic entity . This does not imply that Islam prefers the individual to the group. What it means is that the individual has different sets of roles to play. He must play them in such a way as to guard his moral integrity, preserve his identity, observe the rights of Allâh, and fulfill his social obligations.
"Let there arise out of you a band of people inviting to all that is good, enjoining what is right, and forbidding what is wrong: They are the ones to attain felicity. Let there arise out of you a band of people inviting to all that is good, enjoining what is right, and forbidding what is wrong: They are the ones to attain felicity. " [The Qurân, Ch: 2 Ali Imran, V: 104]
The other day I was bored so I decided to google search “Econoception”. The first result that appeared was from Urbandictionary.com. The word Econoception actually exists and is
a term that symbolises how the markets (and society in general) ignore the reality and rather trust perception gathered through media and others. It is also supported by the theory that 'as long as the numbers stay in line with previously acceptable economic data, the world won't fret too much about what is happening on the ground'
Fascinating isn't it? There are many instances where speculators and traders jump at the slightest rumour and news published in the media. News release days are typically high volatility days; even when the world economy was plagued with fundamental problems the S&P500 still rose more than 200 points over first four months of 2012.