Islam and business

By Rodney Wilson. 2006

134 citations recorded by the source corpus.

The underdevelopment of many of the Muslim economies along the Silk Road is often ascribed to the negative effects of Islam. Yet historically, the Muslim cities along the Road were thriving centers of commerce, and since the collapse of the Soviet Union, there appears to be a revival of business as central Asia is opened up to the global economy. Islam has its own distinctive code of business ethics, and the trust this fosters can lower transaction costs and increase management efficiency. There is no inherent conflict between Islam and capitalism; indeed, it is possible to identify the emergence of a distinctive Islamic type where capital accumulation is based on noninterest forms of financing. © 2006 Wiley Periodicals, Inc.

Subfields: Accounting, Economics and Econometrics, Sociology and Political Science

View Paper: https://www.semanticscholar.org/paper/81bc28605c12795b18e5ed473a6f8cff4400f191

Citations in the corpus

• Principles of employment relations in Islam: a normative view (2010, unknown): “Indeed, as Wilson (2006) argues, Islam has its own distinctive code of business ethics, and the trust this fosters can lower transaction costs and increase management efficiency.”