Islam and Business

Wilson, Rodney

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
• Public URL: https://durham-repository.worktribe.com/output/1588927