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The emergence of mercantilism as a reaction against Muslim power: some of the evidences from history

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  • Islahi, Abdul Azim

Abstract

In the early modern period, changing attitude of Medieval Europe towards trade as an outcome of encounter with Muslim scholars and rulers and consequently emergence of 'mercantilism' was a turning point in the history of economic thought. The paper documents evidences which prove that initially mercantilism was a reaction against Muslim powers. In the rise of mercantilism, discovery of the New World is considered a significant factor. The main objective before explorers and pioneers of mercantilism was to strengthen their governments through the acquisition of precious metal to regain the Holy Places, defeat the enemy, check the expanding power of Muslim rivals and spread Christianity. However, later it ended up in an effective economic movement.

Suggested Citation

  • 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.
  • Handle: RePEc:pra:mprapa:18384
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    File URL: https://mpra.ub.uni-muenchen.de/18384/1/MPRA_paper_18384.pdf
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    References listed on IDEAS

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    1. Islahi, Abdul Azim, 2005. "Contributions of Muslim Scholars to the History of Economic Thought and Analysis upto 15th Century," MPRA Paper 53462, University Library of Munich, Germany.
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    Cited by:

    1. Islahi, Abdul Azim, 2012. "The long diverfence: how Islamic law held back the Middle East by Timur Kuran," MPRA Paper 40877, University Library of Munich, Germany, revised 2012.
    2. Islahi, Abdul Azim, 1991. "Mercantilism and the Muslim states: Lessons from the history," MPRA Paper 22632, University Library of Munich, Germany, revised 1991.
    3. Islahi, Abdul Azim, 2014. "What Did Hold Back the Middle East? The Thesis of The Long Divergence Revisited," MPRA Paper 75263, University Library of Munich, Germany, revised 2015.
    4. Islahi, Abdul Azim, 2012. "Book review: The long divergence: how Islamic law held back the Middle East by Timur Kuran," MPRA Paper 42146, University Library of Munich, Germany, revised 2012.

    More about this item

    Keywords

    Mercantilism; History of Economic Thought; Medieval Economic History.;

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary

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