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- DescriptionEarly Islam and the Birth of Capitalism proposes a strikingly original thesis-that capitalism first emerged in Arabia, t in late medieval Italian city states as is commonly assumed. Early Islam made a seminal but largely unrecognized contribution to the history of ecomic 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 ecomic 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 Gea. These financial invations 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.
- Author BiographyBenedikt Koehler is the editor of A History of Financial Disasters 1857-1923 and is the author of biographies of Ludwig Bamberger, one of the founders of Germany's Deutsche Bank, and of nineteenth-century political philosopher Adam Muller.
- Author(s)Benedikt Koehler
- PublisherLexington Books
- Date of Publication17/06/2014
- SubjectEconomics: Textbooks & Study Guides
- Place of PublicationLanham, MD
- Country of PublicationUnited States
- ImprintLexington Books
- Content Note1 black & white illustrations, 1 maps
- Weight481 g
- Width160 mm
- Height234 mm
- Spine21 mm
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