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Islam and Business

Wilson, Rodney

Authors

Rodney Wilson



Abstract

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.

Citation

Wilson, R. (2006). Islam and Business. Thunderbird International Business Review, 48(1), 109-123. https://doi.org/10.1002/tie.20088

Journal Article Type Article
Publication Date Jan 1, 2006
Deposit Date Jul 9, 2007
Journal Thunderbird International Business Review
Print ISSN 1096-4762
Electronic ISSN 1520-6874
Publisher Wiley
Peer Reviewed Peer Reviewed
Volume 48
Issue 1
Pages 109-123
DOI https://doi.org/10.1002/tie.20088

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