Capitalism in Medieval Islam

  title={Capitalism in Medieval Islam},
  author={Subhi Y. Labib},
  journal={The Journal of Economic History},
  pages={79 - 96}
  • Subhi Y. Labib
  • Published 1 March 1969
  • History
  • The Journal of Economic History
He who looks for the term “capitalism” in the Islamic sources of the Middle Ages will look in vain. On the other hand, the term “capital” has been known since the beginning of Islamic culture. Even in the Holy Book of Islam, in the Sūrat al-Baḳara, the idea of capital appears in connection with trade, business, and the illicit practice of loaning for profit—usury. “O you who believe, keep your duty to Allah and relinquish what remains [due] from usury, if you are believers. But if you do [it… 

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