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  1. #1
    Mustafa16's Avatar
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    What should I major in?

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    I am considering finance, economics, or accounting......but I want to be influential in the social sciences in controversial, political issues, and so finance and economics seem good, but not accounting since it is primarily business-concerned, however, economics undergrads typically face high unemployment here in the US.....and finance would break my grandfather's heart, who is already disappointed in my father for getting a PhD in finance, saying "he works with riba"
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    Re: What should I major in?

    You could always take something like Political Science as a major and then minor in finance or economics. Or if I could recommend a major that I think you would VERY much enjoy if you like calculations and issues and such, seriously consider Geography. All the fun of statistics and politics with none of the riba or concerns about something being haram. Plus you get to learn really cool mapping programs like ARCGIS.

    Islamic Online University also has an Islamic Banking and Finance Bachelor's Degree available, but the credits will likely not transfer anywhere in the US. It is still worth considering though as a course of study if you are considering moving overseas (especially to Africa, where most of the colleges that recognize IOU are) or are willing to take it as a secondary course, as you would take a minor in college.
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    kritikvernunft's Avatar
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    Re: What should I major in?

    format_quote Originally Posted by Mustafa16 View Post
    I am considering finance, economics, or accounting......but I want to be influential in the social sciences in controversial, political issues, and so finance and economics seem good, but not accounting since it is primarily business-concerned, however, economics undergrads typically face high unemployment here in the US.....and finance would break my grandfather's heart, who is already disappointed in my father for getting a PhD in finance, saying "he works with riba"
    You have disciplines that rest on morality (theology), provability (math), testability/falsifiability (science and engineering), or corroboration of witness depositions (history). Everything else are ideological conjectures.

    For example, economics is not provable, not testable, and certainly does not rest on an axiomatization in morality (scriptures/revelations). Therefore, economics amounts to conjecturing ideologies while giving them a fake veneer of seriousness by using lots of symbol manipulations and abusing the language of mathematics for purposes that it does not support. Since economics rests on nothing serious, it is indeed a waste of time, and just a staging area for the dole queue.

    If you want to do finance, then do an undergraduate in mathematics, specialize in number theory, modular algebra, and their applications in cryptography, all of which is a sound basis for understanding cryptocurrencies -- which also stay clear from riba/interest -- and are not just an good way to get an excellent job -- lots a vacancies and few people who can grok the math required -- but even a way to become seriously rich.
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    AHMED PATEL's Avatar
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    Re: What should I major in?

    try to find something which benefits both muslims and greater society ,and helps in general society as a whole.

    in fact when the world is changing so quick one may also consider as a back up a skill like joinery,woodwork and some manner of self sufficiency ,independence
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    Re: What should I major in?

    Asalamu Alaykum

    Make istikhara
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    kritikvernunft's Avatar
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    Re: What should I major in?

    format_quote Originally Posted by Zeal View Post
    Asalamu Alaykum, Make istikhara
    Surprisingly, or maybe not, religious studies automatically re-emerge as a practically useful academic field.

    It takes 3 persons to trade, not 2: The buyer, the seller, but also the one who will be the judge of it, if things go wrong. As you know, pretty much the entire technology clan utterly rejects the government for the role of judge or conflict manager. That is why lawyer in man-made law is a dead end field. Technology continuously seeks to eliminate government-appointed judges and their lawyers.

    That is why we have the system of multi-signature transactions in bitcoin. The buyer is able to produce one signature, the seller another one, and the adjudicator the third one. The decision of to whom the money goes, is made by 2 signatures out of 3. If buyer and seller do not get into a dispute, the buyer just releases the payment to the seller. If there is a dispute, the adjudicator will side with either the buyer of the seller.

    At bitrated.com you can find a peek preview of the future, already growing fast today. Also look for addresses in the blockchain starting with a "3". Those are multi-signature.

    At bitrated, buyers and sellers can search the adjudicator profiles for their specific experience, and select an appropriate one. The adjudicator will charge a nominal fee at the start of the transaction and generate one of the signature keys. The buyer will then transfer the amount escrowed into that 2-of-3 address, after which the seller will deliver the products or services.

    Since no government is involved in such transaction, it would be rather difficult and also undesirable to pick a particular set of national man-made laws to govern it. At the same time. religious law is considered to be fair, even by people who are not necessarily religious. In this environment, you will find that people will happily agree with ulema in the position of adjudicator, i.e. scholars in Islamic law. The scholars will have to specialize in particular types of transactions, concerning particular types of products or services, but that is not the hard part, because the hard part is much more about being fundamentally fair, and administering justice cleanly.

    Anyway, it is technology that decides who exactly will get a role in these transactions, while we all agree that governments will not get one. At the same time, ulema will naturally emerge as the perfectly suitable profiles for the role of putting conflict to rest.
    Last edited by kritikvernunft; 10-07-2016 at 04:23 AM.
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