Early Islam And The Birth Of Capitalism

Early Islam and the Birth of Capitalism proposes a strikingly original thesis; that capitalism first emerged in Arabia, not in late medieval Italian city-states as is commonly assumed. It highlights how Islam made a seminal but largely unrecognized contribution to the history of economic thought, being the only religion founded by an entrepreneur. The book discusses how Islamic institutions and business practices influenced Europe, including innovations like the corporation, business management techniques, commercial arithmetic, and monetary reform. It also covers Islamic institutions such as charities, the waqf, inspired trusts, and madrasas, which influenced European educational institutions.