Behavioral norms in the Islamic doctrine of economics. A critique

Journal Article (Journal Article)

At the heart of the contemporary Islamic doctrine of economics lies a set of behavioral norms derived from the first Islamic society in seventh century Arabia. This paper demonstrates that these norms cannot be expected to serve as the spearhead of a drive for modern economic development. For one thing, the proposed norms are unlikely to enjoy widespread adherence in large societies where it is difficult to achieve a common perception of reality, elicit generalized altruism and overcome the free rider problem. Secondly, many Islamic norms are ambiguous, and some interfere with institutions designed to improve the workings of markets. © 1983.

Full Text

Duke Authors

Cited Authors

  • Kuran, T

Published Date

  • January 1, 1983

Published In

Volume / Issue

  • 4 / 4

Start / End Page

  • 353 - 379

International Standard Serial Number (ISSN)

  • 0167-2681

Digital Object Identifier (DOI)

  • 10.1016/0167-2681(83)90014-8

Citation Source

  • Scopus