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Weber and Baqir as-Sadr: The Paradox of Economic Development in Islamic Societies

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  • Ayman Reda

Abstract

This article attempts to reconsider the controversial relationship between Islam and economic development. It does so by deeply engaging the views of Weber and Baqir as-Sadr. According to Sadr, the development of capitalism in Europe is a consequence of the moral practice of Western societies, which is fundamentally different from that of Islamic societies. This divergence in moral practices translates into a divergence in economic doctrine, resulting in an incompatibility between the capitalist method and the moral practice of Islamic societies.

Suggested Citation

  • Ayman Reda, 2014. "Weber and Baqir as-Sadr: The Paradox of Economic Development in Islamic Societies," American Journal of Economics and Sociology, Wiley Blackwell, vol. 73(1), pages 151-177, January.
    • Handle: RePEc:bla:ajecsc:v:73:y:2014:i:1:p:151-177
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    File URL: http://hdl.handle.net/10.1111/ajes.12069
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    1. William M. Dugger, 1989. "Instituted Process and Enabling Myth: The Two Faces of the Market," Journal of Economic Issues, Taylor & Francis Journals, vol. 23(2), pages 607-615, June.
    2. Charles M. A. Clark, 2006. "Christian Morals and the Competitive System Revisited," Journal of Economic Issues, Taylor & Francis Journals, vol. 40(2), pages 261-275, June.
    3. Timur Kuran, 2004. "Why the Middle East is Economically Underdeveloped: Historical Mechanisms of Institutional Stagnation," Journal of Economic Perspectives, American Economic Association, vol. 18(3), pages 71-90, Summer.
    4. Geoffrey M. Hodgson, 2011. "Sickonomics: Diagnoses and Remedies," Review of Social Economy, Taylor & Francis Journals, vol. 69(3), pages 357-376, September.
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