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The Islamic World-System

A Study in Polity-Market Interaction

This highly original book presents an alternative vision of globalization and explores the epistemology, derived from the Qur'an and the Prophetic guidance Sunnah, that underpins the systemic unity at the heart of the Islamic concept of world-system. Choudhury's investigation reveals the ethical foundations that influence the development of law, markets and social contract in Islamic societies. He then applies his methodology to issues and problems such as property rights, money, political economy, technology diffusion, microenterprise development and asset evaluation.

The Prophet Muhammad's recommendation to adopt gold as the medium of
monetary valuation was practiced for quite some time in the Muslim World until it
was replaced, by the Egyptian Mamluk dynasty, with copper coins. This caused ...