Mercantilism and the Muslim states: Lessons from the history
AbstractMercantilism was the dominant current of economic thinking and practice during the 16th, 17th, and 18th centuries till the emergence of physiocracy. The scientific discoveries in Europe helped the development of mercantilism in many ways. Discovery of new world provided them with new market and a new all water route of European trade through the Cape of the Good Hope. On all these fronts the Muslim states lagged behind. Their absence from this front left the merchant-patronizing governments free to impoverish a larger part of the world by establishing colonies and exploiting them to their own benefit. The development of mercantilism marked the shift of paradigm. It ignored ethical considerations and destroyed moral values that had been hitherto inseparable part of economic thinking and practices.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 22964.
Date of creation: 2008
Date of revision: 2009
Publication status: Published in Hamdard Islamicus 3.32(2009): pp. 23-43
Mercantilism; Pre-classical Economics; Muslims and mercantilism; Krimi Merchants.;
Other versions of this item:
- Islahi, Abdul Azim, 1991. "Mercantilism and the Muslim states: Lessons from the history," MPRA Paper 22632, University Library of Munich, Germany, revised 1991.
- F00 - International Economics - - General - - - General
- B0 - Schools of Economic Thought and Methodology - - General
- A1 - General Economics and Teaching - - General Economics
- Z19 - Other Special Topics - - Cultural Economics - - - Other
- N00 - Economic History - - General - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Islahi, Abdul Azim, 2006. "The emergence of mercantilism as a reaction against Muslim power: some of the evidences from history," MPRA Paper 18384, University Library of Munich, Germany, revised 18 Feb 2007.
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