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The Political Economy and Underdevelopment of the Muslim World: A Juridico-Philosophical Perspective

Ebrahim, M. Shahid; Sheikh, Mustapha

The Political Economy and Underdevelopment of the Muslim World: A Juridico-Philosophical Perspective Thumbnail


Authors

Mustapha Sheikh



Abstract

This article studies the relation between Islam and economic development from a juridico-philosophical perspective. A fresh review of this issue is timely, because of the ongoing laggardness of Arab and Muslim economies due to decades of Pareto-inferior poverty traps. We disentangle the viewpoints on the Islamic-economic nexus and determine that the backwardness of Muslim countries’ economies is primarily due to the retrograde outlook of the jurists ( fuqahāʾ). Flawed jurisprudential reasoning is instrumental in the paucity of financial instruments, markets, and institutional development. We also scrutinise the jurists’ co-option by the ruling elite, which legitimises the elite’s autocracy. We conclude by recommending a salient strategy critical to fostering economic development and growth.

Citation

Ebrahim, M. S., & Sheikh, M. (2018). The Political Economy and Underdevelopment of the Muslim World: A Juridico-Philosophical Perspective. Arab Law Quarterly, 32(4), 385-412. https://doi.org/10.1163/15730255-12324051

Journal Article Type Article
Acceptance Date Mar 6, 2018
Publication Date Mar 1, 2018
Deposit Date Mar 7, 2018
Publicly Available Date Mar 28, 2024
Journal Arab Law Quarterly
Print ISSN 0268-0556
Electronic ISSN 1573-0255
Publisher Brill Academic Publishers
Peer Reviewed Peer Reviewed
Volume 32
Issue 4
Pages 385-412
DOI https://doi.org/10.1163/15730255-12324051
Public URL https://durham-repository.worktribe.com/output/1365560
Publisher URL http://booksandjournals.brillonline.com/content/journals/15730255

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Copyright Statement
© Koninklijke Brill NV, Leiden, 2018




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