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Author: Timur Kuran Publisher: Princeton University Press ISBN: 1400837359 Category : Business & Economics Languages : en Pages : 215
Book Description
The doctrine of "Islamic economics" entered debates over the social role of Islam in the mid-twentieth century. Since then it has pursued the goal of restructuring economies according to perceived Islamic teachings. Beyond its most visible practical achievement--the establishment of Islamic banks meant to avoid interest--it has promoted Islamic norms of economic behavior and founded redistribution systems modeled after early Islamic fiscal practices. In this bold and timely critique, Timur Kuran argues that the doctrine of Islamic economics is simplistic, incoherent, and largely irrelevant to present economic challenges. Observing that few Muslims take it seriously, he also finds that its practical applications have had no discernible effects on efficiency, growth, or poverty reduction. Why, then, has Islamic economics enjoyed any appeal at all? Kuran's answer is that the real purpose of Islamic economics has not been economic improvement but cultivation of a distinct Islamic identity to resist cultural globalization. The Islamic subeconomies that have sprung up across the Islamic world are commonly viewed as manifestations of Islamic economics. In reality, Kuran demonstrates, they emerged to meet the economic aspirations of socially marginalized groups. The Islamic enterprises that form these subeconomies provide advancement opportunities to the disadvantaged. By enhancing interpersonal trust, they also facilitate intragroup transactions. These findings raise the question of whether there exist links between Islam and economic performance. Exploring these links in relation to the long-unsettled question of why the Islamic world became underdeveloped, Kuran identifies several pertinent social mechanisms, some beneficial to economic development, others harmful.
Author: Timur Kuran Publisher: Princeton University Press ISBN: 1400837359 Category : Business & Economics Languages : en Pages : 215
Book Description
The doctrine of "Islamic economics" entered debates over the social role of Islam in the mid-twentieth century. Since then it has pursued the goal of restructuring economies according to perceived Islamic teachings. Beyond its most visible practical achievement--the establishment of Islamic banks meant to avoid interest--it has promoted Islamic norms of economic behavior and founded redistribution systems modeled after early Islamic fiscal practices. In this bold and timely critique, Timur Kuran argues that the doctrine of Islamic economics is simplistic, incoherent, and largely irrelevant to present economic challenges. Observing that few Muslims take it seriously, he also finds that its practical applications have had no discernible effects on efficiency, growth, or poverty reduction. Why, then, has Islamic economics enjoyed any appeal at all? Kuran's answer is that the real purpose of Islamic economics has not been economic improvement but cultivation of a distinct Islamic identity to resist cultural globalization. The Islamic subeconomies that have sprung up across the Islamic world are commonly viewed as manifestations of Islamic economics. In reality, Kuran demonstrates, they emerged to meet the economic aspirations of socially marginalized groups. The Islamic enterprises that form these subeconomies provide advancement opportunities to the disadvantaged. By enhancing interpersonal trust, they also facilitate intragroup transactions. These findings raise the question of whether there exist links between Islam and economic performance. Exploring these links in relation to the long-unsettled question of why the Islamic world became underdeveloped, Kuran identifies several pertinent social mechanisms, some beneficial to economic development, others harmful.
Author: Timur Kuran Publisher: ISBN: 9788189487096 Category : Economics Languages : en Pages : 196
Book Description
The doctrine of Islamic economics entered Islamic discourses in the mid-twentieth century. Since then it has pursued the goal of restructuring economies according to perceived Islamic teachings. Beyond its most visible practical achievement the establishment of Islamic banks meant to avoid interest it has promoted Islamic norms of economic behaviour and founded redistribution systems modelled after early Islamic fiscal practices.In this bold and timely critique, Timur Kuran argues that the doctrine of Islamic economics is simplistic, incoherent, and largely irrelevant to present economic challenges. Observing that few Muslims take it seriously, he also finds that its practical applications have had no discernible effects on efficiency, growth, or poverty reduction. Why, then, has Islamic economics enjoyed any appeal at all? His answer is that its real purpose has not been economic improvement but cultivation of a distinct Islamic identity to resist cultural globalization.The Islamic subeconomies that have sprung up across the Islamic world are commonly viewed as manifestations of Islamic economics. In reality, Kuran demonstrates, they emerged to meet the economic aspirations of socially marginalized groups. The Islamic enterprises that form these subeconomies provide advancement opportunities to the disadvantaged. By enhancing interpersonal trust, they also facilitate intra-group transactions.These findings raise the question of whether there exist links between Islam and economic performance. Exploring these links in relation to the long-unsettled question of why the Islamic world became under-developed, Kuran identifies several pertinent social mechanisms, some beneficial to economic development, others harmful.Timur Kuran is Professor of Economics and Law, and King Faisal Professor of Islamic Thought and Culture, at the University of Southern California. His books include Private Truths, Public Lies. What is Islamic banking? What is Islamic economics? Islam and Mammon . . . sets out the genesis of these ideas and criticizes, severely but still sympathetically, both the performance and the underlying logic of this Islamic approach to economic activity. L. Carl Brown, Foreign Affairs [A] first-rate analysis. . . . It is refreshing to see a work that stands apart from the mishmash of cultural relativism of Islamophiles and the ideological warfare of the Islamophobes. Sohrab Behdad, Denison University
Author: Timur Kuran Publisher: Princeton University Press ISBN: 1400836018 Category : Business & Economics Languages : en Pages : 422
Book Description
How religious barriers stalled capitalism in the Middle East In the year 1000, the economy of the Middle East was at least as advanced as that of Europe. But by 1800, the region had fallen dramatically behind—in living standards, technology, and economic institutions. In short, the Middle East had failed to modernize economically as the West surged ahead. What caused this long divergence? And why does the Middle East remain drastically underdeveloped compared to the West? In The Long Divergence, one of the world's leading experts on Islamic economic institutions and the economy of the Middle East provides a new answer to these long-debated questions. Timur Kuran argues that what slowed the economic development of the Middle East was not colonialism or geography, still less Muslim attitudes or some incompatibility between Islam and capitalism. Rather, starting around the tenth century, Islamic legal institutions, which had benefitted the Middle Eastern economy in the early centuries of Islam, began to act as a drag on development by slowing or blocking the emergence of central features of modern economic life—including private capital accumulation, corporations, large-scale production, and impersonal exchange. By the nineteenth century, modern economic institutions began to be transplanted to the Middle East, but its economy has not caught up. And there is no quick fix today. Low trust, rampant corruption, and weak civil societies—all characteristic of the region's economies today and all legacies of its economic history—will take generations to overcome. The Long Divergence opens up a frank and honest debate on a crucial issue that even some of the most ardent secularists in the Muslim world have hesitated to discuss.
Author: Eugene McCarraher Publisher: Harvard University Press ISBN: 0674242777 Category : History Languages : en Pages : 817
Book Description
“An extraordinary work of intellectual history as well as a scholarly tour de force, a bracing polemic, and a work of Christian prophecy...McCarraher challenges more than 200 years of post-Enlightenment assumptions about the way we live and work.” —The Observer At least since Max Weber, capitalism has been understood as part of the “disenchantment” of the world, stripping material objects and social relations of their mystery and magic. In this magisterial work, Eugene McCarraher challenges this conventional view. Capitalism, he argues, is full of sacrament, whether one is prepared to acknowledge it or not. First flowering in the fields and factories of England and brought to America by Puritans and evangelicals, whose doctrine made ample room for industry and profit, capitalism has become so thoroughly enmeshed in the fabric of our society that our faith in “the market” has become sacrosanct. Informed by cultural history and theology as well as management theory, The Enchantments of Mammon looks to nineteenth-century Romantics, whose vision of labor combined reason, creativity, and mutual aid, for salvation. In this impassioned challenge to some of our most firmly held assumptions, McCarraher argues that capitalism has hijacked our intrinsic longing for divinity—and urges us to break its hold on our souls. “A majestic achievement...It is a work of great moral and spiritual intelligence, and one that invites contemplation about things we can’t afford not to care about deeply.” —Commonweal “More brilliant, more capacious, and more entertaining, page by page, than his most ardent fans dared hope. The magnitude of his accomplishment—an account of American capitalism as a religion...will stun even skeptical readers.” —Christian Century
Author: M. Umer Chapra Publisher: Kube Publishing Ltd ISBN: 0860376060 Category : Religion Languages : en Pages : 249
Book Description
"[This is] a subject of such relevance and importance that one wonders why nobody else dealt with it in book form before."—Dr. Wilfried Hofmann Muslim civilization has experienced a decline during the last five centuries after previously having undergone a long period of prosperity and comprehensive development. This raises a number of questions such as what factors enable Muslims to become successful during the earlier centuries of Islam and what led them to their present weak position. Is Islam responsible for this decline or are there some other factors which come into play? M. Umer Chapra provides an authoritative diagnosis and prescription to reverse this decline. M. Umer Chapra is a research advisor at the Islamic Research and Training Institute of the Islamic Development Bank, Jeddah, and author of The Future of Economics and Islam and the Economic Challenge.
Author: Homa Omid Publisher: Springer ISBN: 1349232467 Category : Political Science Languages : en Pages : 271
Book Description
'...her short analysis of the Iranian armed forces in the 1980s is first-rate, so too is her much more substantial section on women and the state in Iran...As well as offering useful insights into the workings of the Islamic state in Iran, this readable book also provides a warning of the struggles ahead in many other Muslim societies.' - Anoushiravan Ehteshami, Times Higher Education Supplement ;Islam has been the driving force shaping the ideology and the power base of the Iranian revolution. This volume engages critically with the Islamic perspective and promises offered by the revolution. Looking at the rise of the religious institution as a revolutionary force, the author observes their post-revolutionary policies in the domains of politics, economics, education, the armed forces and women's status. In the event, the volume demonstrates that the Iranian government has failed to deliver on most, if not all, of its Islamic pledges.
Author: Ozay Mehmet Publisher: Routledge ISBN: 1134950497 Category : Social Science Languages : en Pages : 242
Book Description
Turkey and Malaysia, two countries on the Islamic periphery, are often not included in discussions of Islamic reassertion and identity. Yet both have been at the forefront of modernization and development, and are exposed to a rising trend of Islamic revival which discloses a deep, psychological identity crisis. In Islamic Identity and Development, Ozay Mehmet examines this identity crisis in the wider context of the Islamic dilemma of reconciling nationalism with Islam. He sees the Islamic revival primarily as a protest movement, concentrated among urban migrant settlements where uneven post-war growth has upset the traditional Islamic order. He argues that Islamic societies must move towards greater openness and an organic relationship between rulers and ruled. In particular, Mehmet suggests the need for a public policy that is not only responsive to material human needs but which also satisfies the ethical preconditions of the Islamic social contract.
Author: Shireen Mahdavi Publisher: Routledge ISBN: 0429980035 Category : Political Science Languages : en Pages : 306
Book Description
This book is the first major account of the life and times of a merchant in nineteenth-century Iran or in the Middle East. Haj Muhammad Amin al-Zarb (1834?1898) rose from humble beginnings to become one of Iran's wealthiest and most prominent merchants. He built up his wealth as a money changer, a trader in textiles, precious stones, opium, carpets, agricultural products, and staple foodstuffs amongst other goods, and judicious transactions in land. Adept at cultivating powerful connections, he became the principal supplier of luxury goods to the Shah, his court, and members of the ruling elite; served as private banker to the Shah, his prime minister, and influential bureaucrats; and became Master of the Mint. He had agents in all the main towns of Persia and Europe with correspondents in Asia and America.Amin al-Zarb was also an entrepreneur, industrialist, and innovator. Determined to bring to Iran the advances he had witnessed in Europe, he invested in mining, established factories with imported machinery (such as glass, china, and silk reeling), built a railway line, and urged the Shah to establish a national bank. He also became an advocate of reform and curbs on arbitrary rule. He befriended the famous Islamic reformer, Jamal al-Din Afghani. An innovator in business, Amin al-Zarb led a very traditional life at home. Gifted at making money, he was nevertheless a pious man who contributed generously to religious and charitable causes. Shireen Mahdavi draws on hitherto unpublished family archives to write not only a biography of a fascinating nineteenth-century merchant but also a social history of the period. Her portrait of Amin al-Zarb also provides important insights into the economic, social, and political role played by merchants in Iran and elsewhere in the Middle East in the nineteenth century.
Author: Mahmoud A. El-Gamal Publisher: Cambridge University Press ISBN: 1139457160 Category : Business & Economics Languages : en Pages : 239
Book Description
This book provides an overview of the practice of Islamic finance and the historical roots that define its modes of operation. The focus of the book is analytical and forward-looking. It shows that Islamic finance exists mainly as a form of rent-seeking legal-arbitrage. In every aspect of finance - from personal loans to investment banking, and from market structure to corporate governance - Islamic finance aims to replicate in Islamic forms the substantive functions of contemporary financial instruments, markets, and institutions. By attempting to replicate the substance of contemporary financial practice using pre-modern contract forms, Islamic finance has arguably failed to serve the objectives of Islamic law. This book proposes refocusing Islamic finance on substance rather than form. This approach would entail abandoning the paradigm of 'Islamization' of every financial practice. It would also entail reorienting the brand-name of Islamic finance to emphasize issues of community banking, micro-finance, and socially responsible investment.
Author: Timur Kuran
Author: Timur Kuran
Author: Timur Kuran
Author: Timur Kuran
Author: Eugene McCarraher
Author: M. Umer Chapra
Author: Homa Omid
Author: Ozay Mehmet
Author: Shireen Mahdavi
Author: Sevket Pamuk
Author: Mahmoud A. El-Gamal