Early Islam and the Birth of Capitalism

Description

Early Islam and the Birth of Capitalism proposes a strikingly original thesis—that capitalism first emerged in Arabia, not in late medieval Italian city states as is commonly assumed. Early Islam made a seminal but largely unrecognized contribution to the history of economic thought; it is the only religion founded by an entrepreneur. Descending from an elite dynasty of religious, civil, and commercial leaders, Muhammad was a successful businessman before founding Islam. As such, the new religion had much to say on trade, consumer protection, business ethics, and property. As Islam rapidly spread across the region so did the economic teachings of early Islam, which eventually made their way to Europe. Early Islam and the Birth of Capitalism demonstrates how Islamic institutions and business practices were adopted and adapted in Venice and Genoa. These financial innovations include the invention of the corporation, business management techniques, commercial... The Richest Man in Arabia Markets without Government Family Matters A Mosque, a Market, and a War Muhammad's Household Finances Muhammad's Executive Office Muhammadan Taxation Succession Rise of the Rashidun Caliphs Decline of the Rashidun Caliphs Journey to Jerusalem Islamic Gold Currency Bankers of Baghdad Islamic Philanthropy: Waqfs Islamic Venture Capital: Qirads Islamic Trade Centres: Funduqs Law in Early Islam From Law to Economics Market Economics in Early Islam Muslim Merchants Abroad Shifting Alliances Tax Havens in the Holy Land The Economic Consequences of Saladin Lives of the Merchants Early Law and Economics in Christendom Conclusion Bibliography Index