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Are Moral Islamic Economics an Answer to the Global Financial Crisis ?

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  • Jean-Yves Moisseron
  • Frederic Teulon

Abstract

One may think that Islam has not much to say on the Crisis of Capitalism because the corpus underpinning the Islamic thought: The Coran and the Sunnah were established long before the development of capitalism. Islamic economy would be then adapted to Pre-capitalist societies. Zakat may be useful to undeveloped society and prohibition of Riba may be convenient only with traditional economy based mainly on trade. One can stand that Islamic thought is not convenient for developed capitalism and for modern societies. The history of Islamic economics proves the contrary.

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Bibliographic Info

Paper provided by Department of Research, Ipag Business School in its series Working Papers with number 2014-152.

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Length: pages
Date of creation: 25 Feb 2014
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Handle: RePEc:ipg:wpaper:2014-152

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  1. Jean-Yves MOISSERON & Bruno-Laurent MOSCHETTO & Frédéric TEULON, 2014. "Islamic finance a review of the literature," Working Papers 2014-093 Keywords : Islam, Department of Research, Ipag Business School.
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Cited by:
  1. Hela Miniaoui & Hameedah Sayani & Anissa Chaibi, 2014. "The Impact of Financial Crisis on Islamic and Conventional Indices of the GCC Countries," Working Papers 2014-401, Department of Research, Ipag Business School.
  2. Ibrahim Fatnassi & Habib Hasnaoui & Zied Ftiti, 2014. "The impact of bank capital on profitability and risk in GCC countries: Islamic vs. Conventional," Working Papers 2014-413, Department of Research, Ipag Business School.

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