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Islamic Finance Briefing - Categorized | Emerging Trends, Islamic Law / Economics more

Are religious beliefs a drag on economic growth?

Posted on 23 July 2012

Many critics of the religion as a social organisation argue that Islam, like other old religions, stymied business in general and economic activity in particular. One staunch advocate of such a view is Timur Kuran who has written extensively on the negative impact of Islamic contract laws and the division of business and estate consequent to the Islamic law of inheritance.
On the surface, Kuran’s view is appealing but a deeper, more objective, look reveals that it is not the institution of religion that is the cause of underdevelopment. Rather, the early stage of development in which many Muslim countries are in has caused the debilitated and enervated commercial sector which Kuran laments………………………………………..Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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