By Saba Mahmood
The plight of spiritual minorities within the center East is frequently attributed to the failure of secularism to take root within the zone. spiritual distinction in a mundane Age demanding situations this review by way of studying 4 cornerstones of secularism—political and civil equality, minority rights, spiritual freedom, and the felony separation of personal and public domains.
Drawing on her vast fieldwork in Egypt with Coptic Orthodox Christians and Bahais—religious minorities in a predominantly Muslim country—Saba Mahmood indicates how smooth secular governance has exacerbated non secular tensions and inequalities instead of decreased them. Tracing the old occupation of secular felony recommendations within the colonial and postcolonial heart East, she explores how contradictions on the very center of political secularism have annoyed and amplified current types of Islamic hierarchy, bringing minority kinfolk in Egypt to a brand new old deadlock. via a detailed exam of Egyptian complaints and constitutional debates approximately minority rights, conflicts round relatives legislation, and controversies over freedom of expression, Mahmood invitations us to mirror at the entwined histories of secularism within the heart East and Europe.
A provocative paintings of scholarship, non secular distinction in a mundane Age demanding situations us to reconsider the promise and boundaries of the secular excellent of spiritual equality.
Saba Mahmood is professor of anthropology on the college of California, Berkeley. She is the writer of Politics of Piety: The Islamic Revival and the Feminist topic (Princeton) and the coauthor of Is Critique Secular? Blasphemy, damage, and loose Speech.
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Fast rising stocks of net liquid foreign liabilities, in particular, generate deep vulnerabilities. Consequently, higher ratios of long-term flows and productive investment imply a higher capacity for efficient absorption. This means not only that the economy will efficiently absorb a higher volume of capital flows, but that a higher flow will be sustainable. Recent experience offers a dramatic demonstration that recipient emerging economies can pay a high cost for allowing the volume and composition of capital flows to be determined by the markets dominated by agents with short horizons.
Domestic prudential macroeconomic regulations offer the best defense given the present international financial architecture. If this approach makes use of a marketbased set of policies, including, for instance, the Chilean-style reserve requirement, its level must be adjusted to the intensity of the supply of funds. Sustaining economic growth in the face of volatile capital flows requires the deployment of a battery of policy instruments, including prudential price-based capital account regulations to deter speculative inflows and improve their maturity structure; an exchange rate regime based on a crawling band with intramarginal intervention or managed flexibility; the sterilization of the monetary effects of capital inflows; strong prudential 47.
This principle also applies to the design of the international institutions required for a more balanced and stable globalization. , and R. Ffrench-Davis. 2001. ” In ShortTerm Capital Flows and Economic Crises, edited by S. Griffith-Jones, M. F. Montes, and A. Nasution. WIDER/Oxford University Press. Akyüz, Y. 1998. ” In Tigers in Trouble: Financial Governance, Liberalisation and Crises in East Asia, edited by K. S. Jomo. London: Zed Books. , and O. G. Ean.