Professional Documents
Culture Documents
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Durham University Durham Centre of Islamic Economics and Finance
Rodinson (1966)
The French orientalist Maxim Rodinsons Islam et Capitalisme (1966) work was in
emergent perhaps radical effort to liberate orientalism from the tunnelled view of
Weberism and did reasonably well in achieving it. He criticized western monopoly on
rationality and modernity. His central argument was to establish the bent of Quran
towards rationality.
Bryan Turners Weber and Islam (1974)
Turner took a systematic approach to dismiss three out of four thesis of Weber
except for patrimonialism. However, notwithstanding the fact that his refutation for
Weber thesis on Islams hedonism, lack of freedom of markets and labor, rational
law, bourgeois and fragmented economic character are all born and nourished in
the womb of patrimonialism to which he had to surrender. Even Webers
criticism on Islam turning in to an accommodating religion from a transformational
one, owes its origin to patrimonialism.
Timur Kuran
Though principally discontented with Islamic legal constructs being inimical of
modernity and rationalism (Kuran 2012), however in his work Islam and Mammon
refuted the idea of Islam being deleterious to growth, by witnessing the golden era of
Islamic society in the pre-medieval time (8th to 12th century). However under the
same grain of thought, he related the static worldview of Islam, that contributed to
Islam loosing grounds to the west in trade and commerce which eventually led to
colonialism.
Rodinson did, or the pro-commerce Macca in the prophets era, or its transformation
from tribalism to a state can be a valid response but cannot be a comprehensive
rejoinder. This leaves gaps for the thinkers for a consistent consolidation across
both the axis referred earlier i.e.
i). the Islamic doctrine and its encapsulation of rationality, growth and
development and
ii) A systemic contemplation of the Muslim society (in all its heterodoxy) to
rationalize the reality which is often quoted by the critiques to criticize Islam itself. A
holistic account on the above, would consummate the response, as there is no
ceteris paribus clause to this complex social reality.
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Durham University Durham Centre of Islamic Economics and Finance
Even muslim scholar like Ibn-e-Khaldun back in the fifteenth century, have candid
theories to incorporate polity, justice in this world (Adl), Gods appraisal of it
(Al-mizan) and the role of wealth to sustain people, whose well-being derives
the legitimacy of the sovereign (Chapra, 2000: 147-148). The Khuldunian doctrine
was even cogent enough to portend the fall of a civilization being dependent on the
social well-being of the society perhaps partly rationalizes the Muslim loosing
grounds in commerce in the medieval age, falling prey to colonialism.
We cannot expect that all nations will adopt like systems- for conformity is the
jailor of freedom and enemy of growth.
John F. Kennedy
Webers essentialism has already failed in his pessimism for China and
Japan.
Whereas for the Muslim world, numerous exceptions can be witnessed. For
example indigenous formation of capitalistic markets in Egypt by the local
merchants without any influence of the west (Gran et. al 1982).
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Durham University Durham Centre of Islamic Economics and Finance
Even in the present day postcolonial Muslim world, countries from the fareast, (Malaysia and Indonesia) subcontinent (Pakistan and Bangladesh) and
the European Union candidate i.e. Turkey which have taken the democratic
development route.
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Durham University Durham Centre of Islamic Economics and Finance
References
Asutay, M. (2007). Conceptualisation of the second best solution in overcoming the social failure of
Islamic
banking
and
finance:
examining
the
overpowering
of
homoislamicus
by
Tripp,
Charles.
"Islam
and
the
moral
economy:
The
challenge
of
capitalism."London,
Cambridge (2006).
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Durham University Durham Centre of Islamic Economics and Finance
Turner, B. S. (Ed.). (1998). Weber and Islam (Vol. 7). Psychology Press.
Weber, M., & Parsons, T. (1998). The Protestant ethic and the spirit of capitalism. Roxbury Pub..
Weber, M. (1978). Economy and society: An outline of interpretive sociology (2 volume set).
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Durham University Durham Centre of Islamic Economics and Finance