Market and Morality

Author: Hakan Şahin* (*) Hakan Şahin is a PhD candidate in Islamic Economics and Finance in Istanbul University. He lectures and publishes on Islam and free market economy; natural rights, civil society, as well as the history of money and banking and runs related seminars in Association for Liberal Thinking. He is also the editor…

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The Libertarian Character of the Islamic Economy

Author: Ali Salman* This article was motivated by a proposal made by Nigel Ashford of The Institute of Humane Studies during a meeting of the Mont Pelerin Society in Istanbul in October 2011, that evidence of a libertarian tradition be sought within the history of Islamic thought. It was originally published in Economic Affairs. (*) Visiting Fellow…

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Property Rights from an Islamic Perspective

Author: Dr. Maszlee Malik, Institute for Democracy and Economic Affairs & Istanbul Network for Liberty * This case study has been published in the 2016 International Property Rights Index.   Abstract Amongst the cardinal principles of “free market” is the individual’s right to own private properties. There will be no freedom if individuals do not…

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Islam, Commerce and Business Ethics

Author: Imad-ad-Dean Ahmad*   INTRODUCTION Islam is the only major world religion founded by a businessman, although, in a sense, Judaism, Christianity and Islam all trace their origins to another businessman, Abraham, the ancestor of Moses, Jesus and Muhammad, peace be upon them all. Islam has never had any hostility to the profession of the…

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Can Muslims Be Free Marketeers

“The biggest fear in the Muslim world is the association in their minds of free markets with imperialism,” says Dr. Imad-ad-Dean Ahmad, president of the Minaret of Freedom Institute. “But those of us familiar with the history of libertarian thought know that true devotees of the free market have always been opposed to imperialism.”  …

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Is Islam Compatible with Capitalism

The Middle East’s future depends on the answer Author: Guy Sorman* The moment you arrive at the airport in Cairo, you discover how little Egypt—the heart of Arab civilization—is governed by the rule of law. You line up to show your passport to the customs officer; you wait and wait and wait. Eventually, you reach…

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Early Islam and the Birth of Capitalism

Dr. Benedikt Koehler is a historian, a former banker and an expert in early Islamic Economics. As part of a new three-year “History of Capitalism” course, Dr. Koehler delivered an inaugural lecture based on his book, “Early Islam and the Origins of Capitalism”. In his lecture, Koehler proposed a strikingly original thesis; that capitalism first…

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Islam, Democracy and Civil Society

Author: Chandran Kukathas* What is the relationship between Islam, democracy, and civil society? This is the question which supplies the topic of this essay, Its purpose, more particularly, is to explore the place of Islam in the modern world-a world which contemporary writers increasingly try to understand by invoking the notions of democracy and civil…

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