Islam and the Challenges of Western Capitalism
- Rodney Wilson, Durham University, UK and INCEIF University, Malaysia
'Under a title inspired by the dichotomous histories of Islamic and Western capitalism, Çizakça and the individual authors navigate through a detailed examination of Islamic institutions and their role in the evolution of Western capitalism. Theoretically this book builds upon a variety of case studies from the birth of Islam in the seventh century to the contemporary Islamic financial networks nurtured by the Hajj. Equally convincing are the models of Islamic finance which illustrate its flexibility in the face of contemporary realities. The volume is highly instructive in examining the development of innovative community-centred financial initiatives like the cash waqf, while addressing the issue of convergence and divergence between Islamic capitalism and western capitalism. Çizakça, a leading expert on Islamic economics, thus makes a powerful case for its role in shaping the commanding heights of Western capitalism.'
- Rajeswary Ampalavanar Brown, Royal Holloway College, University of London, UK
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.
These collected works are expertly summarized by the editor in an original introduction and will be welcomed by all those with an historical or contemporary interest in Islamic studies.
25 articles, dating from 1985 to 2013
Contributors include: S.O. Alhabshi, Z.A. Aziz, O.I. Bacha, M.U. Chapra, Z. Hasan, A. Mirakhor, V. Nienhaus, S. Pamuk, M.N. Siddiqi, M.T. Usmani