Early Islam and the Birth of Capitalism

Dr. Benedikt Koehler is a historian, a former banker and an expert in early Islamic Economics. As part of a new three-year “History of Capitalism” course, Dr. Koehler delivered an inaugural lecture based on his book, “Early Islam and the Origins of Capitalism”. In his lecture, Koehler proposed a strikingly original thesis; that capitalism first…

Private Sector Provision of Welfare in Early Islam: the Waqf – Benedikt Koehler

By Benedikt Koehler Abstract  Waqfs have been a distinctive feature of welfare provision in Islamic societies for many centuries.   However, there is a common perception that waqfs were not conceived during the lifetime of   Muhammad. A recent study of Islamic institutional history, for example, asserted waqfs were an   “institutional choice, which appears to have been…