Benedikt Koehler

Are religions influenced by economics? Are economics influenced by religions? If so, how - and why? Faith in Markets? charts the intersection between faith and economics in Judaism, Christianity and Islam. It draws on the thoughts of Adam Smith, Emile Durkheim, Friedrich Hayek and Sir Thomas More, whilst also examining the teachings of Moses, Jesus and Mohammed. Collating a series of essays that first appeared in the academic journal Economic Affairs, it traces the development of Abrahamic faiths through the lens of social science and illustrates how, in the secular world, the pathways between faith and economics have diverged. It examines the frictions between modern-day social thought and religion and, crucially, asks whether these two worlds can ever re-establish links in the future.

Early Islam and the Birth of Capitalism proposes a strikingly original thesis; that capitalism first emerged in Arabia, not in late medieval Italian city states as is commonly assumed. Early Islam made a seminal but largely unrecognized contribution to the history of economic thought: it is the only religion founded by an entrepreneur. Descending from an elite dynasty of religious, civil and commercial leaders, Muhammad was a successful businessman before founding Islam. As such, the new religion had much to say on trade, consumer protection, business ethics and property. As Islam rapidly spread across the region so did the economic teachings of early Islam, which eventually made their way to Europe. Early Islam and the Birth of Capitalism demonstrates how Islamic institutions and business practices were adopted and adapted in Venice and Genoa. These financial innovations include the invention of the corporation, business management techniques, commercial arithmetic, and monetary reform. There were other Islamic institutions assimilated in Europe: charities, the waqf, inspired trusts, and institutions of higher learning, the madrasas, were models for the oldest colleges of Oxford and Cambridge. As such it can be rightfully said that these essential aspects of capitalist thought all have Islamic antecedents.

Early Islam and the Birth of Capitalism proposes a strikingly original thesis—that capitalism first emerged in Arabia, not in late medieval Italian city states as is commonly assumed. Early Islam made a seminal but largely unrecognized contribution to the history of economic thought; it is the only religion founded by an entrepreneur. Descending from an elite dynasty of religious, civil, and commercial leaders, Muhammad was a successful businessman before founding Islam. As such, the new religion had much to say on trade, consumer protection, business ethics, and property. As Islam rapidly spread across the region so did the economic teachings of early Islam, which eventually made their way to Europe. Early Islam and the Birth of Capitalism demonstrates how Islamic institutions and business practices were adopted and adapted in Venice and Genoa. These financial innovations include the invention of the corporation, business management techniques, commercial arithmetic, and monetary reform. There were other Islamic institutions assimilated in Europe: charities, the waqf, inspired trusts, and institutions of higher learning; the madrasas were models for the oldest colleges of Oxford and Cambridge. As such, it can be rightfully said that these essential aspects of capitalist thought all have Islamic roots.

Looks at the origins and consequences of seminal financial crises throughout history, combining contemporary texts from nineteen financial disasters between 1763 and 1994, with academic interpretations of the major causes and consequences of each crisis. These documents contain evaluations of the underlying causes of the various crises.

Looks at the origins and consequences of seminal financial crises throughout history, combining contemporary texts from nineteen financial disasters between 1763 and 1994, with academic interpretations of the major causes and consequences of each crisis. These documents contain evaluations of the underlying causes of the various crises.

Looks at the origins and consequences of seminal financial crises throughout history, combining contemporary texts from nineteen financial disasters between 1763 and 1994, with academic interpretations of the major causes and consequences of each crisis. These documents contain evaluations of the underlying causes of the various crises.

Looks at the origins and consequences of seminal financial crises throughout history, combining contemporary texts from nineteen financial disasters between 1763 and 1994, with academic interpretations of the major causes and consequences of each crisis. These documents contain evaluations of the underlying causes of the various crises.