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Maqasid foundations of market economics
Drawing on received sources of 'maqasid' (Shari'ah's practical objectives), this book demonstrates how the principles of market economics affect how markets and financial institutions actually operate under Shari'ah law. Students can check their progress with learning outcomes, chapter previews, chapter summaries and revision questions.
eBook
Islam and Mammon
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.
eBook
Bombay Islam
As a thriving port city, nineteenth-century Bombay attracted migrants from across India and beyond. Nile Green's Bombay Islam traces the ties between industrialization, imperialism and the production of religion to show how Muslim migration fueled demand for a wide range of religious suppliers, as Christian missionaries competed with Muslim religious entrepreneurs for a stake in the new market. Enabled by a colonial policy of non-intervention in religious affairs, and powered by steam travel and vernacular printing, Bombay's Islamic productions were exported as far as South Africa and Iran. Connecting histories of religion, labour and globalization, the book examines the role of ordinary people - mill hands and merchants - in shaping the demand that drove the market. By drawing on hagiographies, travelogues, doctrinal works, and poems in Persian, Urdu and Arabic, Bombay Islam unravels a vernacular modernity that saw people from across the Indian Ocean drawn into Bombay's industrial economy of enchantment.
eBook
The Economics of Religion: Anthropological Approaches
\"The Economics of Religion\" explores the new paradigms of \"religious economics\" and \"economies of religion\" under the scope of transdisciplinary and international perspectives. It examines and appraises some of the recent theoretical developments and methodological innovations in religious and social sciences. This volume offers the chance to extend the analysis of religious behaviours by means of conceptual and methodological models of economics. It goes far beyond the classical \"economy and religion\" debate, and suggests not only theoretical but also epistemological changes in the study of religion: individual rationality and rational choice, market theory, demand and supply theory, branding and commodification of religion, believers' \"consumer\" habits, churches' competitive strategies, for example. Of course, these are not exempt from criticism, which this volume also addresses. These detailed and localized case-studies range from experimental to ethnographic methods, psychological to cultural aspects of believing and practising cults in the scope of economics of religion. Geographical areas covered include Nigeria, Bolivia, Italy, Mexico, France, Korea, Nepal and Tonga.
eBook
