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Islamic Economics: A Short History

471 Pages · 2008 · 2.28 MB · English

  • Islamic Economics: A Short History

    ISLAMIC ECONOMICS THEMES IN ISLAMIC STUDIES


    A (new) Brill Series including short histories and concise surveys of appealing


    themes in the field of Islamic and Arabic Studies The various titles give an accessible


    overview of a specific aspect or topic. Scholars and graduate students find in this


    series easy reference tools to current subjects in Islamic history and culture. Several


    titles are edited compilations of articles from the Encyclopaedia of Islam (second


    edition).


    VOLUME 3 ISLAMIC ECONOMICS


    A SHORT HISTORY


    BY


    AHMED A.F. EL-ASHKER


    AND


    RODNEY WILSON


    LEIDEN•BOSTON


    2006 This book is printed on acid-free paper.


    Library of Congress Cataloging-in-Publication Data


    El-Ashker, Ahmed Abdel-Fattah, 1943-


    Islamic economics : a short history / by Ahmed El-Ashker and Rodney Wilson.


    p. cm. — (Themes in Islamic studies)


    Includes bibliographical references and index.


    ISBN-13: 978-90-04-15134-5


    ISBN-10: 90-04-15134-6 (hardback : alk. paper)


    1. Economics—Religious aspects—Islam. 2. Islam—Economic aspects. I. Wilson,


    Rodney II. Title. III. Series.


    BP173.75.E42 2006


    330.088’297—dc22


    2006049043


    ISSN 1389-823X


    ISBN-13: 978-90-04-15134-5


    ISBN-10: 90-04-15134-6


    © Copyright 2006 by Koninklijke Brill NV, Leiden, The Netherlands


    Koninklijke Brill NV incorporates the imprints Brill,


    Hotei Publishing, IDC Publishers, Martinus Nijhoff Publishers and VSP.


    All rights reserved. No part of this publication may be reproduced, translated, stored in


    a retrieval system, or transmitted in any form or by any means, electronic,


    mechanical, photocopying, recording or otherwise, without prior written


    permission from the publisher.


    Authorization to photocopy items for internal or personal


    use is granted by Brill provided that


    the appropriate fees are paid directly to The Copyright


    Clearance Center, 222 Rosewood Drive, Suite 910


    Danvers MA 01923, USA.


    Fees are subject to change.


    printed in the netherlands To the memory of our fathers. CONTENTS


    Preface ........................................................................................ xi


    Acknowledgement ...................................................................... xiii


    Transliteration of Arabic Letters .............................................. xv


    Chapter One Pre-Islamic Arabia: Poetry, Tribal Rivalry


    and Heroism (800 B.C.–610 A.C.) ...................................... 1


    Introduction ............................................................................ 1


    Biblical Connections .............................................................. 1


    The Land and the People .................................................... 3


    Social Organization and Settlement Patterns ...................... 4


    Arabian Civilizations .............................................................. 10


    Trade and Finance in Makkah ............................................ 21


    The Bedouin in Islam .......................................................... 24


    Chapter Two The Birth of the Islamic State:


    Economic Thought in the Qur"àn and Sunnah


    (610 A.C.–632 A.C.) .............................................................. 30


    Introduction ............................................................................ 30


    Sources of the Islamic Economic Thought .......................... 32


    Economic Thought in the Qur"àn and the Sunnah .......... 37


    Basic Philosophy .................................................................... 37


    Application of Basic Philosophy ............................................ 44


    Islamic Economics in the Qur"àn and Sunnah and the


    Present Time ...................................................................... 89


    Chapter Three Economic Thought of the Rightly Guided


    Caliphs (632 A.C.–661 A.C.) ................................................ 92


    Introduction ............................................................................ 92


    The Caliphate ........................................................................ 93


    The First Caliph Abù-Bakr (632–634) ................................ 95


    The Second Caliph Umar (634–644) .................................. 99


    The Third Caliph Uthmàn (644–656) ................................ 116


    The Fourth Caliph Ali (656–661) ........................................ 120 viii contents


    Chapter Four The Dynastic Caliphates: The Umayyads


    and the Reforms (661 A.C.–750 A.C.) ................................ 126


    Introduction ............................................................................ 126


    The Caliphate and the Dynasty .......................................... 126


    Islamic Expansion and the Need for Administrative


    Reform ................................................................................ 128


    Administrative and Economic Reforms ................................ 130


    Monetary Reform .................................................................. 134


    Islamic Urbanisation .............................................................. 135


    Agriculture .............................................................................. 137


    Trade and Commerce .......................................................... 139


    Legal Forms of Business ........................................................ 142


    State Finance .......................................................................... 145


    Chapter Five The Abbasìd’s Golden Age: The Florescence


    of Islamic Economics (750 A.C.–1000 A.C.) ...................... 155


    Introduction ............................................................................ 155


    Leading Specialised Work on Islamic Economics .............. 155


    Main Changes in the Economic Features .......................... 158


    Intellectual Development ...................................................... 161


    Jurisprudence Schools of Thought ........................................ 167


    The First Specialised Books on Islamic Economics ............ 169


    Abù-Yùsuf (113–182 A.H., 731–798 A.C.) .......................... 171


    Kitàb al-Kharàj, Treatise in al-Kharàj ............................ 171


    Al-Shaibànì (132–189 A.H., 750–804 A.C.):


    From Macro-Economics to Micro-Economics:


    Kitàb al-Iktisàb, Book of Earnings .................................. 197


    Abù-Ubaid (d. 224 H., 838 A.C.) ........................................ 205


    Kitàb al-Amwàl, Book of Wealth .................................... 205


    The Contribution of Sùfìsm to Islamic Economic


    Thought ................................................................................ 208


    Abdullah al-Œarith bin Asad al-Muœasibì,


    (d. 243 A.H., 857 A.C.) .................................................... 214


    Kitàb Risalat al-Iktisàb wa al Wara", Treatise on Earning


    and Asceticism ................................................................ 214


    Chapter Six Political Fragmentation and Cultural Diversity


    (1000 A.C.–1400 A.C.) .......................................................... 222


    Introduction ............................................................................ 222


    Political Fragmentation .......................................................... 222


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