Muslims and Capitalism

Abstract

From today’s perspective, Islam and capitalism seem to be natural partners. In a world where state socialism is on the wane, Islamic states in particular seem to be run by an exploitative class that in their hyper-capitalist way of profit-making does not care at all about social justice. Modern history, however, has seen a great number of movements, political parties and individuals propagating the incompatibility of capitalism with Islam. And at a second glance, the quest for social justice and the rejection of capitalism actually appear as a driving force in different Islamic discourses, including that of the so-called Islamic State.

The articles of this volume offer intriguing and original thoughts about the appropriate economic system for a Muslim society. Some of the concepts are based right away on socialism, while others call for a genuine, non-Western Islamic ‘third way‘ between communism and capitalism. In fact, political reality has forced the secular Left to grapple with the response of Islamic movements to poverty and injustice. The volume therefore also includes useful insights into the Left’s reaction to this political challenge.

The articles cover a wide range of world regions, not only the Middle East and Turkey, but also the Far East and North Africa, with a time span ranging from the late 19th century to the present. In addition, the reader is also introduced to economic concepts of early Islam and their textual sources.