Why free market economy is weak in Islamic world? – Hicham El Moussaoui

Hicham El Moussaoui, Ph.D Trust is the lubricant of trade. It reduces the costs of transactions and uncertainty, which  allows it to provide a dual mission : the incentive for individuals to participate in the   exchange and coordination of their individual plans. Therefore, without trust no   exchange and without exchange no market economy. Adam Smith…

Islam in Bosnia: An Empirical Analysis of Muslims’ Desire for Government Control – Edo Omercevic

By Edo Omerčević This paper is an empirical analysis of the desire for government control in different  segments of life in Bosnia and Herzegovina. The focus is on Bosnian Muslims and on   the effect of intensity of religious practice. The data is based on a survey conducted by   the author. The findings indicate that Bosnian…

Ahl al-Ray vs. Ahl al-Hadith: Destructive Consequences of the Conflict Between Rationalist and Traditionist Schools in the Muslim World – Mustafa Acar

By Prof. Dr. Mustafa Acar It is a generally observed phenomenon that the liberal values such as freedom, plurality, multi- culturalism, openness, limited government, and free market economy are not so welcomed in the Muslim   world today. To put it differently, many Muslim intellectuals as well as political authorities and the laymen   are either indifferent…

Why a Particular Political Idea didn’t Emerge in Islamic History? – Hasan Yücel Başdemir

By Assoc. Prof. Hasan Yücel Başdemir – Yildirim Beyazit What is the Trouble in the Muslim World?  When we try to depict the Muslim World in terms of political way we’ll see a situation like   that: There isn’t any good governance, political stability can’t be provided and violence is   dominant. The process which had begun…

State and community in Islam: Rights, responsibilities and obligations vis a vis individuals – Dzenan Smajic

By Dzenan Smajic Abstract  In this paper, we will try to explain how the idea of a state which is a servant of its individual citizens must   be the supreme issue in nowadays Islamic community. The main thing is that we are not here to speak just   about rights, responsibilities and obligations of the state…

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…

Liberal Democracy and Economic Development in Islamic world – Akrem M. Aswed

Dr. Akrem M. Aswed Liberal democracy face several obstacles such as lack of supporting institutions and promoting democracy and freedom, dictatorships that   ruled for long periods, political instability (after the Arab Spring), and also economic underdevelopment, which is a result of the factors above mentioned and a reason sometimes too. In this presentation we will…