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Cultures of Energy

Cultures of Energy brings writers, artists and scholars together to talk, think and feel their way into the Anthropocene. We cover serious issues like climate change, species extinction and energy transition. But we also try to confront seemingly huge and insurmountable problems with insight, creativity and laughter. We believe in the possibility of personal and cultural change. And we believe that the arts and humanities can help guide us toward a more sustainable future. Cultures of Energy is sponsored by Rice University’s Center for Energy and Environmental Research in the Human Sciences (CENHS, pronounced ‘sense’). Join the conversation on Twitter @cenhs and on the web at culturesofenergy.com
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Feb 8, 2019

Dominic and Cymene review the Green New Deal and the erotic life of Adam Smith on this week’s episode of the podcast. Then (18:52) Daromir Rudnyckyj joins us to talk about his new book, Beyond Debt: Islamic Experiments in Global Finance, (U Chicago Press, 2018), which takes us deep into the rapidly evolving world of Islamic finance. Daromir explains to us the spirit and letter of Islamic finance, how its investment and risk-sharing norms depart from those the debt-based model of western finance, and what the implications would be for capitalism were Islamic finance to become the dominant global investment model. We ask him whether a bigger role for Islamic finance would do anything to reign in the growth obsession of contemporary economic thought and practice. Daromir explains how Islamic moral philosophy limits speculative investment and seeks to imagine a form of capitalism beyond debt. We discuss whether the debt jubilee model really breaks with the logic of western capitalism and whether it would be possible to expand the presence of Islamic finance in the global North without inflaming Islamophobic hysteria. We discuss what “halal finance” might be and whether it could better acquaint investors with the real local impacts of their capital investments. We close talking about Daromir’s latest work on local alternative currencies.

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