Showing posts with label Islamic Economics. Show all posts
Showing posts with label Islamic Economics. Show all posts

Wednesday, November 14, 2012

The Spread Of Islam: An Economic Perspective

Given the holiday tomorrow in conjunction with the Islamic New Year, this new NBER research paper is really appropriate (abstract):

Trade and Geography in the Origins and Spread of Islam
Stelios Michalopoulos, Alireza Naghavi, Giovanni Prarolo

This research examines the economic origins and spread of Islam in the Old World and uncovers two empirical regularities. First, Muslim countries and ethnic groups exhibit highly unequal regional agricultural endowments. Second, Muslim adherence is systematically higher along the pre-Islamic trade routes. We discuss the possible mechanisms that may give rise to the observed pattern and provide a simple theoretical argument that highlights the interplay between an unequal geography and proximity to lucrative trade routes. We argue that these elements exacerbated inequalities across diverse tribal societies producing a conflictual environment that had the potential to disrupt trade flows. Any credible movement attempting to centralize these heterogeneous populations had to offer moral and economic rules addressing the underlying economic inequalities. Islam was such a movement. In line with this conjecture, we utilize anthropological information on pre-colonial traits of African ethnicities and show that Muslim groups have distinct economic, political, and societal arrangements featuring a subsistence pattern skewed towards animal husbandry, more equitable inheritance rules, and more politically centralized societies with a strong belief in a moralizing God.

Thursday, June 16, 2011

Islamic Economics

I stumbled on this last month, but haven’t read it til now (excerpt from the introduction):

ISLAMIC ECONOMICS, What Went Wrong?

Is Islamic economics independent from economics? Does it make a paradigm of its own? Does it depend of a set of assumptions and analytical tools that is different from economics? Does it make a discipline of its own?

Many Islamic economists have an undoubted affirmative answer. They argue that it is independent and they take upon themselves the task of attempting to invent an “appropriate set” of tools to understand the behavior of Muslim consumer, firm, macro numbers. The fervor of this attitude was very apparent when the world of economics had two-part Apartheid: communism and capitalism…