The Long Divergence: How Islamic Law Held Back the Middle East

The Long Divergence: How Islamic Law Held Back the Middle East

by Timur Kuran
     
 

ISBN-10: 0691147566

ISBN-13: 9780691147567

Pub. Date: 11/25/2010

Publisher: Princeton University Press

In the year 1000, the economy of the Middle East was at least as advanced as that of Europe. But by 1800, the region had fallen dramatically behind--in living standards, technology, and economic institutions. In short, the Middle East had failed to modernize economically as the West surged ahead. What caused this long divergence? And why does the Middle East remain…  See more details below

Overview

In the year 1000, the economy of the Middle East was at least as advanced as that of Europe. But by 1800, the region had fallen dramatically behind--in living standards, technology, and economic institutions. In short, the Middle East had failed to modernize economically as the West surged ahead. What caused this long divergence? And why does the Middle East remain drastically underdeveloped compared to the West? In The Long Divergence, one of the world's leading experts on Islamic economic institutions and the economy of the Middle East provides a new answer to these long-debated questions. Timur Kuran argues that what slowed the economic development of the Middle East was not colonialism or geography, still less Muslim attitudes or some incompatibility between Islam and capitalism. Rather, starting around the tenth century, Islamic legal institutions, which had benefitted the Middle Eastern economy in the early centuries of Islam, began to act as a drag on development by slowing or blocking the emergence of central features of modern economic life--including private capital accumulation, corporations, large-scale production, and impersonal exchange. By the nineteenth century, modern economic institutions began to be transplanted to the Middle East, but its economy has not caught up. And there is no quick fix today. Low trust, rampant corruption, and weak civil societies--all characteristic of the region's economies today and all legacies of its economic history--will take generations to overcome. The Long Divergence opens up a frank and honest debate on a crucial issue that even some of the most ardent secularists in the Muslim world have hesitated to discuss.

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Product Details

ISBN-13:
9780691147567
Publisher:
Princeton University Press
Publication date:
11/25/2010
Edition description:
New Edition
Pages:
424
Product dimensions:
6.50(w) x 9.30(h) x 1.30(d)

Table of Contents

Preface ix

PART I Introduction

Chapter 1: The Puzzle of the Middle East's

Economic Underdevelopment 3

Chapter 2: Analyzing the Economic Role of Islam 25

PART II Organizational Stagnation

Chapter 3: Commercial Life under Islamic Rule 45

Chapter 4: The Persistent Simplicity of Islamic Partnerships 63

Chapter 5: Drawbacks of the Islamic Inheritance System 78

Chapter 6: The Absence of the Corporation in Islamic Law 97

Chapter 7: Barriers to the Emergence of a Middle Eastern Business Corporation 117

Chapter 8: Credit Markets without Banks 143

PART III The Makings of Underdevelopment

Chapter 9: The Islamization of Non-Muslim Economic Life 169

Chapter 10: The Ascent of the Middle East's Religious Minorities 189

Chapter 11: Origins and Fiscal Impact of the Capitulations 209

Chapter 12: Foreign Privileges as Facilitators of Impersonal Exchange 228

Chapter 13: The Absence of Middle Eastern Consuls 254

PART IV Conclusions

Chapter 14: Did Islam Inhibit Economic Development? 279

Notes 303

References 349

Index 393

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