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Islam and the Challenges of Western Capitalism by Murat Çizakça Pdf
This unique book brings together some of the finest minds in comparative economic / financial history and modern Islamic finance to discuss the rise, the decline and the contemporary efforts to regenerate Islamic capitalism. The collection features articles on the contribution of classical Muslim scholars to the history of economic thought, the institutions that translated these ideas into everyday life and whether these thoughts and institutions constitute a clash or a symbiosis of civilizations. The efforts of contemporary Muslim thinkers to design a modern Islamic economy are also carefully scrutinized.
How do modern Muslims adapt their traditions to engage with today's world? Charles Tripp's erudite and incisive book considers one of the most significant challenges faced by Muslims over the last sixty years: the challenge of capitalism. By reference to the works of noted Muslim scholars, the author shows how, faced by this challenge, these intellectuals devised a range of strategies which have enabled Muslims to remain true to their faith, whilst engaging effectively with a world not of their own making. The work is framed around the development of their ideas on Islamic socialism, economics and the rationale for Islamic banking. While some Muslims have resorted to confrontation or insularity to cope with the challenges of modernity, most have aspired to innovation and ingenuity in the search for compromise and interaction with global capitalism in the twenty-first century.
Author : M. Umer Chapra Publisher : International Institute of Islamic Thought (IIIT) Page : 91 pages File Size : 53,9 Mb Release : 1992 Category : Business & Economics ISBN : 9780860372172
Islamic Capitalism and Finance by Murat Çizakça Pdf
'It was a humbling experience to read the product of such a remarkable feat of scholarship. It is all at once an exploration in analytic history and a complete text of Islamic finance theory and application. It is also one of the most succinct renditions of the evolution of Islamic finance embedded in a comprehensive account of the particularities of economies as diverse as Malaysia and Turkey. This is a unique contribution to Islamic finance and Islamic economic history. It has been a rewarding learning experience. It is truly a breathtaking effort.' – Abbas Mirakhor, former IMF Executive Director and the recipient of the Islamic Development Bank Prize in Islamic Economics (2003) This illuminating and thought-provoking book questions whether classical Islamic capitalism, which has served Muslims so well for centuries, can provide a viable alternative world economic system. In the current recession – the worst since 1929 – this is surely a provocative question. But if Islamic capitalism is to emerge as a viable alternative, its nature and systems must be well understood. Murat Çizakça explores key issues within Islamic capitalism and finance, shedding light on whether the Islamic system can indeed be called 'capitalist', the principles on which the system was built, the institutions that were consequently developed, how they function and have evolved, and, perhaps, most importantly, whether they can be modernized to meet today's needs. Against the backdrop of rapid change in the Middle East, this book gives a solid background to the economic systems that will emerge in the world of Islam. An essential guide to the past, present and future of Islamic economy and finance, this compelling book will prove to be of particular interest to academics and researchers of economics, finance, economic and financial history and political science.
Over the last decade, pious Muslims all over the world have gone through contradictory transformations. Though public attention commonly rests on the turn toward violence, this book's stories of transformation to "moderate Islam" in a previously radical district in Istanbul exemplify another experience. In a shift away from distrust of the state to partial secularization, Islamists in Turkey transitioned through a process of absorption into existing power structures. With rich descriptions of life in the district of Sultanbeyli, this unique work investigates how religious activists organized, how authorities defeated them, and how the emergent pro-state Justice and Development Party incorporated them. As Tuğal reveals, the absorption of a radical movement was not simply the foregone conclusion of an inevitable world-historical trend but an outcome of contingent struggles. With a closing comparative look at Egypt and Iran, the book situates the Turkish case in a broad historical context and discusses why Islamic politics have not been similarly integrated into secular capitalism elsewhere.
Muslims and Capitalism - an Uneasy Relationship? by Béatrice Hendrich Pdf
From today's perspective, Islam and capitalism seem to be natural partners. In a world where state socialism is on the wane, Islamic states in particular seem to be run by an exploitative class that in their hyper-capitalist way of profit-making does not care at all about social justice. Modern history, however, has seen a great number of movements, political parties and individuals propagating the incompatibility of capitalism with Islam. And at a second glance, the quest for social justice and the rejection of capitalism actually appear as a driving force in different Islamic discourses, including that of the so-called Islamic State. The articles of this volume offer intriguing and original thoughts about the appropriate economic system for a Muslim society. Some of the concepts are based right away on socialism, while others call for a genuine, non-Western Islamic 'third way' between communism and capitalism. In fact, political reality has forced the secular Left to grapple with the response of Islamic movements to poverty and injustice. The volume therefore also includes useful insights into the Left's reaction to this political challenge. The articles cover a wide range of world regions, not only the Middle East and Turkey, but also the Far East and North Africa, with a time span ranging from the late 19th century to the present. In addition, the reader is also introduced to economic concepts of early Islam and their textual sources.
Western Dominance and Political Islam by Khalid B. Sayeed Pdf
Sayeed explores the kinds of resistance Western hegemony has provoked in the Middle East and shows that, although Islamic fundamentalism cannot provide a viable alternative to Western political, cultural, and economic systems, some of the major Islamic ideas can do so. This book challenges prevalent Western media and popular interpretations of Islam. Through a political and historical analysis of Saudi Arabia, Iran, and Pakistan--countries that represent the religious, ethnic, and ideological spectrum of the Muslim world--it explores whether or not Islam as a political religion and civilization can provide a preferable alternative to Western capitalist democracy. Sayeed argues that although Islamic fundamentalism, particularly in its militant and violent form, lacks the potential to become such a system, some of the major Islamic ideas, if reinterpreted and reformulated, can provide a viable alternative to Western political and economic dominance, especially in the Middle and Near East.
Leading authority on the Islamic world and influential advisor to the Obama administration Vali Nasr shows that the West’s best hope of winning the battle against Islamic extremists is to foster the growth of a vibrant new Muslim middle class. This flourishing of Muslim bourgeoisie is reshaping the mind-set, politics, and even the religious values of Muslims in much the same way the Western bourgeoisie lead the capitalist and democratic revolution in Europe. Whereas extremism has grown out of the dismal economic failures of the authoritarian Islamic regimes, Nasr explains, the wealth and aspirations of this Islamic “critical middle” put them squarely at odds with extremism. They have ushered in remarkable transformations already in Dubai, Turkey, and Indonesia, and they are the key to tipping the balance in both Iran and Pakistan. As he writes “the great battle for the soul of the Muslim world will be fought not over religion but over market capitalism.”
Vali Nasr’s The Shia Revival turned the debate about the Iraq War on its head, unveiling how the Shia-Sunni rift fueled the Iraqi insurgency, and shooting onto the bestseller lists. Now Fateful Crescent will utterly rewrite the wisdom about the Islamic threat and the "clash of civilizations." With Iran fast becoming a hegemonic powerhouse, embroiling the U.S. in what’s been described as a new Cold War, Vali Nasr reveals there is also a powerful counterforce in the Islamic world to that of the Iranian regime, so far unseen in the West. A vast tidal force is swelling up of upwardly mobile entrepreneurs, consumers, and investors who can tip the scales of power away from extremist belligerence. With a deft combination of historical narrative and contemporary on-the-ground reporting, Nasr demystifies these devout yet development-minded Muslims of the "critical middle"—the stealth force behind the extraordinary growth of aggressively capitalist Dubai—showing that they are people the West can and must do business with. By building strong ties with them, Nasr demonstrates, the tide of extremism can be turned. Fateful Crescent will spark lively debate and play a vital role in bringing about a sea change in thinking about the conflict with Islam.
Over the last decade, pious Muslims all over the world have gone through contradictory transformations. Though public attention commonly rests on the turn toward violence, this book's stories of transformation to "moderate Islam" in a previously radical district in Istanbul exemplify another experience. In a shift away from distrust of the state to partial secularization, Islamists in Turkey transitioned through a process of absorption into existing power structures. With rich descriptions of life in the district of Sultanbeyli, this unique work investigates how religious activists organized, how authorities defeated them, and how the emergent pro-state Justice and Development Party incorporated them. As Tugal reveals, the absorption of a radical movement was not simply the foregone conclusion of an inevitable world-historical trend but an outcome of contingent struggles. With a closing comparative look at Egypt and Iran, the book situates the Turkish case in a broad historical context and discusses why Islamic politics have not been similarly integrated into secular capitalism elsewhere.
There is no doubt that Islam poses a sterile dilemma for the West. In the late twentieth century and the beginning of this century, the West found itself embroiled in tragic and futile interactions with Islam. Today, the controversies over the West's relationship with Islam are startling and increasingly complex. This book explains why Islam is an ordeal for the West. It elucidates the nature of the conflict between the West and Islam. It also reveals the manifestations of the contradictions between the West and Islam. The endeavors of the West to overcome the threat of Islam are disclosed. Generally, this book answers the question "Why is Islam perceived as evil from the Western perspective?" The book's arguments are based on facts, circumstances, incidents, and evidence cited in more than a thousand international references.
Islam and the Orientalist World-system by Khaldoun Samman,Mazhar Al-Zoʻby Pdf
Offers an understanding of Islam and Islamic societies' role and relations to global cultural and economic realities. This book offers a portrait of Islamic societies and challenges the belief that Islam is not part of, nor much affected by, the modern world-system.
Early Islam and the Birth of Capitalism by Benedikt Koehler Pdf
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 arithmetic, and monetary reform. There were other Islamic institutions assimilated in Europe: charities, the waqf, inspired trusts, and institutions of higher learning; the madrasas were models for the oldest colleges of Oxford and Cambridge. As such, it can be rightfully said that these essential aspects of capitalist thought all have Islamic roots.
