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Islam and the Institutions of a Free Society: Many Problems, Little Hope

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Abstract

The rule of law, constitutional democracy, and market economy are taken as the core institutions of free societies. After arguing that shared values heavily influence institutions, it is asked whether Islamic values are conducive to those institutions. The values are ascertained via the economic ethics of Islam as lived today and the attitudes of some Muslim populations via the analysis of a recent opinion poll. Neither the values nor the attitudes of Muslim societies seem particularly supportive of the institutions of a free society.

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  • Voigt, Stefan, 2004. "Islam and the Institutions of a Free Society: Many Problems, Little Hope," Ratio Working Papers 43, The Ratio Institute, revised 20 Dec 2004.
    • Handle: RePEc:hhs:ratioi:0043
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    1. La Porta, Rafael, et al, 1997. "Trust in Large Organizations," American Economic Review, American Economic Association, vol. 87(2), pages 333-338, May.
    2. Adam Przeworski & Fernando Limongi, 1993. "Political Regimes and Economic Growth," Journal of Economic Perspectives, American Economic Association, vol. 7(3), pages 51-69, Summer.
    3. Timur Kuran, 1997. "Islam and Underdevelopment: An Old Puzzle Revisited," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 153(1), pages 1-41, March.
    4. Feld, Lars P. & Voigt, Stefan, 2003. "Economic growth and judicial independence: cross-country evidence using a new set of indicators," European Journal of Political Economy, Elsevier, vol. 19(3), pages 497-527, September.
    5. Berggren, Niclas, 2003. "The Benefits of Economic Freedom: A Survey," Ratio Working Papers 4, The Ratio Institute.
    6. Regina T. Riphahn & Oliver Serfling, 2002. "Neue Evidenz zum Schulerfolg von Zuwanderern in der zweiten Generation in Deutschland," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 71(2), pages 230-248.
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    Cited by:

    1. Noha Farrag & Hebatallah Ghoneim, 2016. "Challenges to the Development of an Islamic Economic System," Working Papers 42, The German University in Cairo, Faculty of Management Technology.

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    More about this item

    Keywords

    Islam; Values; Culture; New Institutional economics; rule of law; constitutional democracy; market economy;
    All these keywords.

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • N45 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Asia including Middle East
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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