Ebrahim, MS and Sheikh, M (2018) The Political Economy and Underdevelopment of the Muslim World: A Juridico-Philosophical Perspective. Arab Law Quarterly, 32 (4). pp. 385-412. ISSN 0268-0556
Abstract
This article studies the relation between Islam and economic development from a juridico-philosophical perspective. A fresh review of this issue is timely, because of the ongoing laggardness of Arab and Muslim economies due to decades of Pareto-inferior poverty traps. We disentangle the viewpoints on the Islamic-economic nexus and determine that the backwardness of Muslim countries’ economies is primarily due to the retrograde outlook of the jurists (fuqahāʾ). Flawed jurisprudential reasoning is instrumental in the paucity of financial instruments, markets, and institutional development. We also scrutinise the jurists’ co-option by the ruling elite, which legitimises the elite’s autocracy. We conclude by recommending a salient strategy critical to fostering economic development and growth.
Metadata
Item Type: | Article |
---|---|
Authors/Creators: |
|
Copyright, Publisher and Additional Information: | This paper is protected by copyright. This is an author produced version of a paper published in Arab Law Quarterly. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | ijtihād; economic underdevelopment; ḥiyal; intellectual stalemate; ribā |
Dates: |
|
Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Arts, Humanities and Cultures (Leeds) > School of Languages Cultures & Societies (Leeds) > Arabic & Middle Eastern Studies (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 28 Sep 2018 09:33 |
Last Modified: | 09 Nov 2019 01:38 |
Status: | Published |
Publisher: | Brill Academic Publishers |
Identification Number: | 10.1163/15730255-12324051 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:136301 |