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The Scale of Entrepreneurship in Middle Eastern History: Inhibitive Roles of Islamic Institutions

Author

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  • Timur Kuran

Abstract

The historical record belies the claim that Islam impeded entrepreneurship by inculcating conformism and fatalism. However, the diametrically opposed view that Islamic institutions are necessarily supportive of entrepreneurship flies in the face of the historical transformations associated with economic modernization. Islamic institutions that served innovators well in the medieval global economy became dysfunctional as the world made the transition from personal to impersonal exchange. The key problem is that Islamic law failed to stimulate the development of organizational forms conducive to pooling and managing resources on a large scale.

Suggested Citation

  • Timur Kuran, 2010. "The Scale of Entrepreneurship in Middle Eastern History: Inhibitive Roles of Islamic Institutions," Working Papers 10-14, Duke University, Department of Economics.
    • Handle: RePEc:duk:dukeec:10-14
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    Cited by:

    1. Beath, Andrew & Christia, Fotini & Enikolopov, Ruben, 2013. "Empowering Women through Development Aid: Evidence from a Field Experiment in Afghanistan," American Political Science Review, Cambridge University Press, vol. 107(3), pages 540-557, August.
    2. Wissam Abdulkadhum Abdulridha* & Mustafa Salih Dakhil & Raheem Abed Mohammad, 2018. "The Importance of Standard Accounting Disclosure: An Assessment of External Auditor and Institutional Investor’s Point of View," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 23-29:4.
    3. Frank R. Gunter, 2013. "The Political Economy of Iraq," Books, Edward Elgar Publishing, number 14293.
    4. Oscar Gelderblom & Abe de Jong & Joost Jonker, 2012. "The Formative Years of the Modern Corporation: The Dutch East India Company VOC, 1602-1623," Working Papers 0036, Utrecht University, Centre for Global Economic History.
    5. Beath, Andrew & Christia, Fotini & Enikolopov, Ruben, 2012. "Empowering women : evidence from a field experiment in Afghanistan," Policy Research Working Paper Series 6269, The World Bank.
    6. Lee Yong-Shik, 2015. "Call for a New Analytical Model for Law and Development," The Law and Development Review, De Gruyter, vol. 8(1), pages 1-67, June.

    More about this item

    Keywords

    Entrepreneurship; Middle East; Islam; development; business history;
    All these keywords.

    JEL classification:

    • N85 - Economic History - - Micro-Business History - - - Asia including Middle East
    • N25 - Economic History - - Financial Markets and Institutions - - - Asia including Middle East
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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