IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

The Paradigm of Islamic Political Economy: An Institutionalist Analysis of Myth and Reality

Listed author(s):
  • Taner Akan


    (Kocaeli University, Turkey - Faculty of Economics and Administrative Sciences)

Registered author(s):

    From its genesis in the seventh century onwards, Islam has been a major paradigm that has shaped the politico-economic life of a vast portion of the world population, nearly a quarter at present. In view of the underdeveloped or developing structures of Muslim-majority nations, it has mostly been assumed that Islam predicates an autocratic theocracy and a conservative, rather than a progressive, economic policy that retards scientific research and entrepreneurial innovation. Conversely, with a reactive consciousness, orthodox Muslims take it for granted that Islam’s divinely ordained normative axioms would be enough for them to spontaneously establish the most conciliatory political regime on the earth and an advanced economic system irrespective of the power and money-oriented dimensions of human interaction and the assimilative potential of capitalist world economy. To clarify this ambiguity between the reductionist and mythicising perceptions over the theory and praxis of Islamic political economy, this paper first and basically examines its framing institutions at the level of theory and then the causes and consequences of [in]consistencies between its theoretical axioms and their praxis by the Muslim nations.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: Access to full text is restricted to subscribers

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by Fabrizio Serra Editore, Pisa - Roma in its journal History of Economic Ideas.

    Volume (Year): 23 (2015)
    Issue (Month): 2 ()
    Pages: 41-72

    in new window

    Handle: RePEc:hid:journl:v:23:y:2015:2:2:p:41-72
    Contact details of provider: Web page:

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:hid:journl:v:23:y:2015:2:2:p:41-72. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mario Aldo Cedrini)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.