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.sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><table class="sidebar sidebar-collapse nomobile nowraplinks"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Capitalism" title="Category:Capitalism">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="padding:0.2em;"><a href="/wiki/Capitalism" title="Capitalism">Capitalism</a></th></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Concepts</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Austerity" title="Austerity">Austerity</a></li> <li><a href="/wiki/Business" title="Business">Business</a></li> <li><a href="/wiki/Business_cycle" title="Business cycle">Business cycle</a></li> <li><a href="/wiki/Businessperson" title="Businessperson">Businessperson</a></li> <li><a href="/wiki/Capital_(economics)" title="Capital (economics)">Capital</a></li> <li><a href="/wiki/Capital_accumulation" title="Capital accumulation">Capital accumulation</a></li> <li><a href="/wiki/Capital_market" title="Capital market">Capital markets</a></li> <li><a href="/wiki/Company" title="Company">Company</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a href="/wiki/Competition_(economics)" title="Competition (economics)">Competitive markets</a></li> <li><a href="/wiki/Economic_interventionism" class="mw-redirect" title="Economic interventionism">Economic interventionism</a></li> <li><a href="/wiki/Economic_liberalism" title="Economic liberalism">Economic liberalism</a></li> <li><a href="/wiki/Economic_surplus" title="Economic surplus">Economic surplus</a></li> <li><a href="/wiki/Entrepreneurship" title="Entrepreneurship">Entrepreneurship</a></li> <li><a href="/wiki/Fictitious_capital" title="Fictitious capital">Fictitious capital</a></li> <li><a href="/wiki/Financial_market" title="Financial market">Financial market</a></li> <li><a href="/wiki/Free_price_system" title="Free price system">Free price system</a></li> <li><a href="/wiki/Free_market" title="Free market">Free market</a></li> <li><a href="/wiki/Goods_and_services" title="Goods and services">Goods and services</a></li> <li><a href="/wiki/Investor" title="Investor">Investor</a></li> <li><a href="/wiki/Invisible_hand" title="Invisible hand">Invisible hand</a></li> <li><a href="/wiki/Visible_hand_(economics)" title="Visible hand (economics)">Visible hand</a></li> <li><a href="/wiki/Liberalization" title="Liberalization">Liberalization</a></li> <li><a href="/wiki/Marginalism" title="Marginalism">Marginalism</a></li> <li><a href="/wiki/Money" title="Money">Money</a></li> <li><a href="/wiki/Private_property" title="Private property">Private property</a></li> <li><a href="/wiki/Privatization" title="Privatization">Privatization</a></li> <li><a href="/wiki/Profit_(economics)" title="Profit (economics)">Profit</a></li> <li><a href="/wiki/Rent_seeking" class="mw-redirect" title="Rent seeking">Rent seeking</a></li> <li><a href="/wiki/Supply_and_demand" title="Supply and demand">Supply and demand</a></li> <li><a href="/wiki/Surplus_value" title="Surplus value">Surplus value</a></li> <li><a href="/wiki/Value_(economics)" title="Value (economics)">Value</a></li> <li><a href="/wiki/Wage_labour" title="Wage labour">Wage labour</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Economic systems</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Anglo-Saxon_capitalism" class="mw-redirect" title="Anglo-Saxon capitalism">Anglo-Saxon</a></li> <li><a href="/wiki/Authoritarian_capitalism" title="Authoritarian capitalism">Authoritarian</a></li> <li><a href="/wiki/Corporate_capitalism" title="Corporate capitalism">Corporate</a></li> <li><a href="/wiki/Dirigisme" title="Dirigisme">Dirigist</a></li> <li><a href="/wiki/Free_market#General_principles" title="Free market">Free-market</a></li> <li><a href="/wiki/Humanistic_capitalism" title="Humanistic capitalism">Humanistic</a></li> <li><i><a href="/wiki/Laissez-faire_capitalism" class="mw-redirect" title="Laissez-faire capitalism">Laissez-faire</a></i></li> <li><a href="/wiki/Liberal_capitalism" class="mw-redirect" title="Liberal capitalism">Liberal</a></li> <li><a href="/wiki/Libertarian_capitalism" class="mw-redirect" title="Libertarian capitalism">Libertarian</a></li> <li><a href="/wiki/Market_capitalism" class="mw-redirect" title="Market capitalism">Market</a></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilist</a></li> <li><a href="/wiki/Mixed_capitalism" class="mw-redirect" title="Mixed capitalism">Mixed</a></li> <li><a href="/wiki/State_monopoly_capitalism" title="State monopoly capitalism">Monopoly</a></li> <li><a href="/wiki/National_capitalism" class="mw-redirect" title="National capitalism">National</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberal</a></li> <li><a href="/wiki/Nordic_capitalism" class="mw-redirect" title="Nordic capitalism">Nordic</a></li> <li><a href="/wiki/Anarcho-capitalism" title="Anarcho-capitalism">Private</a></li> <li><a href="/wiki/Raw_capitalism" class="mw-redirect" title="Raw capitalism">Raw</a></li> <li><a href="/wiki/Regulated_market" title="Regulated market">Regulated market</a></li> <li><a href="/wiki/Regulatory_capitalism" title="Regulatory capitalism">Regulatory</a></li> <li><a href="/wiki/Rhine_capitalism" class="mw-redirect" title="Rhine capitalism">Rhine</a></li> <li><a href="/wiki/Social_market_economy" title="Social market economy">Social</a></li> <li><a href="/wiki/State_capitalism" title="State capitalism">State</a></li> <li><a href="/wiki/State-sponsored_capitalism" class="mw-redirect" title="State-sponsored capitalism">State-sponsored</a></li> <li><a href="/wiki/Welfare_capitalism" title="Welfare capitalism">Welfare</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Economic theories</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/American_School_(economics)" title="American School (economics)">American</a></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_Monetary_Theory" class="mw-redirect" title="Modern Monetary Theory">MMT</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a></li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a></li></ul></li> <li><a href="/wiki/Market_monetarism" title="Market monetarism">Market monetarism</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Critique_of_work" title="Critique of work">Critique of work</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxist</a></li> <li><a href="/wiki/Monetarism" title="Monetarism">Monetarist</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Origins</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Age_of_Enlightenment" title="Age of Enlightenment">Age of Enlightenment</a></li> <li><a class="mw-selflink selflink">Capitalism and Islam</a></li> <li><a href="/wiki/Commercial_Revolution" class="mw-redirect" title="Commercial Revolution">Commercial Revolution</a></li> <li><a href="/wiki/Feudalism" title="Feudalism">Feudalism</a></li> <li><a href="/wiki/Industrial_Revolution" title="Industrial Revolution">Industrial Revolution</a></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilism</a></li> <li><a href="/wiki/Primitive_accumulation_of_capital" title="Primitive accumulation of capital">Primitive accumulation</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocracy</a></li> <li><a href="/wiki/Simple_commodity_production" title="Simple commodity production">Simple commodity production</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Development</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Advanced_capitalism" title="Advanced capitalism">Advanced</a></li> <li><a href="/wiki/Consumer_capitalism" title="Consumer capitalism">Consumer</a></li> <li><a href="/wiki/Community_capitalism" title="Community capitalism">Community</a></li> <li><a href="/wiki/Corporate_capitalism" title="Corporate capitalism">Corporate</a></li> <li><a href="/wiki/Crony_capitalism" title="Crony capitalism">Crony</a></li> <li><a href="/wiki/Finance_capitalism" title="Finance capitalism">Finance</a></li> <li><a href="/wiki/Global_capitalism" class="mw-redirect" title="Global capitalism">Global</a></li> <li><a href="/wiki/Authoritarian_capitalism" title="Authoritarian capitalism">Illiberal</a></li> <li><a href="/wiki/Late_capitalism" title="Late capitalism">Late</a></li> <li><a href="/wiki/Capitalist_mode_of_production_(Marxist_theory)" title="Capitalist mode of production (Marxist theory)">Marxist</a></li> <li><a href="/wiki/Merchant_capitalism" title="Merchant capitalism">Merchant</a></li> <li><a href="/wiki/Progressive_capitalism" title="Progressive capitalism">Progressive</a></li> <li><a href="/wiki/Rentier_capitalism" title="Rentier capitalism">Rentier</a></li> <li><a href="/wiki/State_monopoly_capitalism" title="State monopoly capitalism">State monopoly</a></li> <li><a href="/wiki/Technocapitalism" title="Technocapitalism">Technological</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Intellectuals</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Ayn_Rand" title="Ayn Rand">Rand</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Richard_M._Weaver" title="Richard M. Weaver">Weaver</a></li> <li><a href="/wiki/Max_Weber" title="Max Weber">Weber</a></li> <li><a href="/wiki/Ronald_Coase" title="Ronald Coase">Coase</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Related topics</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Anti-capitalism" title="Anti-capitalism">Anti-capitalism</a></li> <li><a href="/wiki/Capitalist_propaganda" title="Capitalist propaganda">Capitalist propaganda</a></li> <li><a href="/wiki/Capitalist_realism" title="Capitalist realism">Capitalist realism</a></li> <li><a href="/wiki/Capitalist_state" title="Capitalist state">Capitalist state</a></li> <li><a href="/wiki/Consumerism" title="Consumerism">Consumerism</a></li> <li><a href="/wiki/Crisis_theory" title="Crisis theory">Crisis theory</a></li> <li><a href="/wiki/Criticism_of_capitalism" title="Criticism of capitalism">Criticism of capitalism</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Critique_of_work" title="Critique of work">Critique of work</a></li> <li><a href="/wiki/Cronyism" title="Cronyism">Cronyism</a></li> <li><a href="/wiki/Culture_of_capitalism" title="Culture of capitalism">Culture of capitalism</a></li> <li><a href="/wiki/Evergreening" title="Evergreening">Evergreening</a></li> <li><a href="/wiki/Exploitation_of_labour" title="Exploitation of labour">Exploitation of labour</a></li> <li><a href="/wiki/Globalization" title="Globalization">Globalization</a></li> <li><a href="/wiki/History_of_capitalism" title="History of capitalism">History</a></li> <li><a href="/wiki/History_of_capitalist_theory" title="History of capitalist theory">History of theory</a></li> <li><a href="/wiki/Market_economy" title="Market economy">Market economy</a></li> <li><a href="/wiki/Periodizations_of_capitalism" title="Periodizations of capitalism">Periodizations of capitalism</a></li> <li><a href="/wiki/Perspectives_on_capitalism" class="mw-redirect" title="Perspectives on capitalism">Perspectives on capitalism</a></li> <li><a href="/wiki/Post-capitalism" title="Post-capitalism">Post-capitalism</a></li> <li><a href="/wiki/Speculation" title="Speculation">Speculation</a></li> <li><a href="/wiki/Spontaneous_order" title="Spontaneous order">Spontaneous order</a></li> <li><a href="/wiki/Venture_philanthropy" title="Venture philanthropy">Venture philanthropy</a></li> <li><a href="/wiki/Wage_slavery" title="Wage slavery">Wage slavery</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;text-align:left;;color: var(--color-base)">Ideologies</div><div class="sidebar-list-content mw-collapsible-content hlist"> <ul><li><a href="/wiki/Anarcho-capitalism" title="Anarcho-capitalism">Anarcho</a></li> <li><a href="/wiki/Authoritarian_capitalism" title="Authoritarian capitalism">Authoritarian</a></li> <li><a href="/wiki/Classical_liberalism" title="Classical liberalism">Classical liberalism</a></li> <li><a href="/wiki/Democratic_capitalism" title="Democratic capitalism">Democratic</a></li> <li><a href="/wiki/Dirigisme" title="Dirigisme">Dirigisme</a></li> <li><a href="/wiki/Eco-capitalism" title="Eco-capitalism">Eco</a></li> <li><a href="/wiki/Humanistic_capitalism" title="Humanistic capitalism">Humanistic</a></li> <li><a href="/wiki/Inclusive_capitalism" title="Inclusive capitalism">Inclusive</a></li> <li><a href="/wiki/Liberal_capitalism" class="mw-redirect" title="Liberal capitalism">Liberal</a></li> <li><a href="/wiki/Liberalism" title="Liberalism">Liberalism</a></li> <li><a href="/wiki/Libertarian_capitalism" class="mw-redirect" title="Libertarian capitalism">Libertarian</a></li> <li><a href="/wiki/Neo-Capitalism" class="mw-redirect" title="Neo-Capitalism">Neo</a></li> <li><a href="/wiki/Neoliberalism" title="Neoliberalism">Neoliberalism</a></li> <li><a href="/wiki/Objectivism" title="Objectivism">Objectivism</a></li> <li><a href="/wiki/Ordoliberalism" title="Ordoliberalism">Ordoliberalism</a></li> <li><a href="/wiki/Privatism" title="Privatism">Privatism</a></li> <li><a href="/wiki/Right-libertarianism" title="Right-libertarianism">Right-libertarianism</a></li> <li><a href="/wiki/Third_Way" title="Third Way">Third Way</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below plainlist"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Capitalismlogo.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Capitalismlogo.svg/16px-Capitalismlogo.svg.png" decoding="async" width="16" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Capitalismlogo.svg/24px-Capitalismlogo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Capitalismlogo.svg/32px-Capitalismlogo.svg.png 2x" data-file-width="959" data-file-height="912" /></a></span> </span><a href="/wiki/Portal:Capitalism" title="Portal:Capitalism">Capitalism portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Capitalism_sidebar" title="Template:Capitalism sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Capitalism_sidebar" title="Template talk:Capitalism sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Capitalism_sidebar" title="Special:EditPage/Template:Capitalism sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Islamic capitalism</b> was active during the <a href="/wiki/Islamic_Golden_Age" title="Islamic Golden Age">Islamic Golden Age</a> and <a href="/wiki/Arab_Agricultural_Revolution" title="Arab Agricultural Revolution">Arab Agricultural Revolution</a>, where an early <a href="/wiki/Market_economy" title="Market economy">market economy</a> and form of <a href="/wiki/Merchant_capitalism" title="Merchant capitalism">merchant capitalism</a> took root between the 8th–12th centuries. A vigorous <a href="/wiki/Monetary_economy" class="mw-redirect" title="Monetary economy">monetary economy</a> was based on a widely-circulated <a href="/wiki/Currency" title="Currency">currency</a> (the <a href="/wiki/Dinar" title="Dinar">dinar</a>) and the integration of <a href="/wiki/Monetary" class="mw-redirect" title="Monetary">monetary</a> areas that were previously independent. Business techniques and forms of business organisation employed during this time included <a href="/wiki/Contract" title="Contract">contracts</a>, <a href="/wiki/Bills_of_exchange" class="mw-redirect" title="Bills of exchange">bills of exchange</a>, long-distance <a href="/wiki/International_trade" title="International trade">international trade</a>, forms of <a href="/wiki/Partnership" title="Partnership">partnership</a> (<i>mufawadha</i>) such as <a href="/wiki/Limited_partnership" title="Limited partnership">limited partnerships</a> (<i>mudharaba</i>), and forms of <a href="/wiki/Credit_(finance)" class="mw-redirect" title="Credit (finance)">credit</a>, <a href="/wiki/Debt" title="Debt">debt</a>, <a href="/wiki/Profit_(accounting)" title="Profit (accounting)">profit</a>, <a href="/wiki/Income_statement" title="Income statement">loss</a>, <a href="/wiki/Capital_(economics)" title="Capital (economics)">capital</a> (<i>al-mal</i>), <a href="/wiki/Capital_accumulation" title="Capital accumulation">capital accumulation</a> (<i>nama al-mal</i>),<sup id="cite_ref-Banaji_1-0" class="reference"><a href="#cite_note-Banaji-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag failed verification of its source citation(s). (February 2010)">failed verification</span></a></i>]</sup> <a href="/wiki/Circulating_capital" title="Circulating capital">circulating capital</a>, <a href="/wiki/Capital_expenditure" title="Capital expenditure">capital expenditure</a>, <a href="/wiki/Revenue" title="Revenue">revenue</a>, <a href="/wiki/Cheque" title="Cheque">cheques</a>, <a href="/wiki/Promissory_note" title="Promissory note">promissory notes</a>,<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Trusts" class="mw-redirect" title="Trusts">trusts</a> (see <i><a href="/wiki/Waqf" title="Waqf">Waqf</a></i>), <a href="/wiki/Savings_account" title="Savings account">savings accounts</a>, <a href="/wiki/Transactional_account" class="mw-redirect" title="Transactional account">transactional accounts</a>, <a href="/wiki/Pawn_(law)" class="mw-redirect" title="Pawn (law)">pawning</a>, <a href="/wiki/Loan" title="Loan">loaning</a>, <a href="/wiki/Exchange_rate" title="Exchange rate">exchange rates</a>, <a href="/wiki/Bank" title="Bank">bankers</a>, <a href="/wiki/Money_changer" title="Money changer">money changers</a>, <a href="/wiki/Ledger" title="Ledger">ledgers</a>, <a href="/wiki/Deposit_account" title="Deposit account">deposits</a>, <a href="/wiki/Assignment_(law)" title="Assignment (law)">assignments</a>, the <a href="/wiki/Double-entry_bookkeeping_system" class="mw-redirect" title="Double-entry bookkeeping system">double-entry bookkeeping system</a>,<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> and <a href="/wiki/Lawsuit" title="Lawsuit">lawsuits</a>.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Organization" title="Organization">Organizational</a> <a href="/wiki/Business" title="Business">enterprises</a> independent from the <a href="/wiki/State_(polity)" title="State (polity)">state</a> also existed in the medieval Islamic world, while the <a href="/wiki/Agency_(law)" class="mw-redirect" title="Agency (law)">agency</a> institution was also introduced.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Many of these early capitalist concepts were adopted and further advanced in <a href="/wiki/Medieval_Europe" class="mw-redirect" title="Medieval Europe">medieval Europe</a> from the 13th century onwards.<sup id="cite_ref-Banaji_1-1" class="reference"><a href="#cite_note-Banaji-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Some have argued that these economic activities laid the foundations for the development of modern capitalism.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Market_economy">Market economy</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Capitalism_and_Islam&action=edit&section=1" title="Edit section: Market economy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Islamic_economics_in_the_world" class="mw-redirect" title="Islamic economics in the world">Islamic economics in the world</a></div> <p>A <a href="/wiki/Market_economy" title="Market economy">market economy</a> was established in the Islamic world on the basis of an economic system resembling <a href="/wiki/Merchant_capitalism" title="Merchant capitalism">merchant capitalism</a>. <a href="/wiki/Capital_formation" title="Capital formation">Capital formation</a> was promoted by <a href="/wiki/Labour_(economics)" class="mw-redirect" title="Labour (economics)">labour</a> in medieval Islamic society, and <a href="/wiki/Financial_capital" title="Financial capital">financial capital</a> was developed by a considerable number of owners of monetary funds and <a href="/wiki/Precious_metal" title="Precious metal">precious metals</a>. <a href="/wiki/Riba" title="Riba">Riba</a> (<a href="/wiki/Usury" title="Usury">usury</a>) was prohibited by the <a href="/wiki/Qur%27an" class="mw-redirect" title="Qur'an">Qur'an</a>, but this did not hamper the development of capital in any way. The capitalists (<i>sahib al-mal</i>) were at the height of their power between the 9th–12th centuries, but their influence declined after the arrival of the <i>ikta</i> (landowners) and after production was monopolized by the state, both of which hampered the development of <a href="/wiki/Capitalism#Industrial_Revolution" title="Capitalism">industrial capitalism</a> in the Islamic world.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> Some <a href="/wiki/State_enterprise" class="mw-redirect" title="State enterprise">state enterprises</a> still had a <a href="/wiki/Capitalism#As_a_mode_of_production" title="Capitalism">capitalist mode of production</a>, such as pearl diving in <a href="/wiki/Iraq" title="Iraq">Iraq</a> and the <a href="/wiki/Textile_industry" title="Textile industry">textile industry</a> in Egypt.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>During the 11th–13th centuries, the "<a href="/w/index.php?title=Karimis&action=edit&redlink=1" class="new" title="Karimis (page does not exist)">Karimis</a>", an early enterprise and business group controlled by entrepreneurs, came to dominate much of the Islamic world's economy.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> The group was controlled by about fifty Muslim merchants labelled as "Karimis" who were of <a href="/wiki/Yemen" title="Yemen">Yemeni</a>, Egyptian and sometimes Indian origins.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> Each Karimi merchant had considerable wealth, ranging from at least 100,000 <a href="/wiki/Dinar" title="Dinar">dinars</a> to as much as 10 million dinars. The group had considerable influence in most important eastern markets and sometimes [politics through its financing activities and through a variety of customers, including <a href="/wiki/Emir" title="Emir">Emirs</a>, <a href="/wiki/Sultan" title="Sultan">Sultans</a>, <a href="/wiki/Vizier" title="Vizier">Viziers</a>, foreign merchants, and common consumers. The Karimis dominated many of the <a href="/wiki/Trade_routes" class="mw-redirect" title="Trade routes">trade routes</a> across the Mediterranean Sea, <a href="/wiki/Red_Sea" title="Red Sea">Red Sea</a>, and Indian Ocean, and as far as <a href="/wiki/Francia" title="Francia">Francia</a> in the north, China in the east, and <a href="/wiki/Sub-Saharan_Africa" title="Sub-Saharan Africa">sub-Saharan Africa</a> in the south, where they obtained gold. Strategies employed by the Karimis include the use of agents, the financing of projects as a method of acquiring capital, and a banking institution for loans and deposits. Another important difference between the Karimis and other entrepreneurs before and during their time was that they were not tax collectors or landlords, but their capitalism was due entirely to trade and financial transactions.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p><p>Though medieval Islamic economics appears to have somewhat resembled a form of capitalism, some <a href="/wiki/Oriental_studies" title="Oriental studies">Orientalists</a> also believe that there exist a number of parallels between Islamic economics and <a href="/wiki/Communism" title="Communism">communism</a>, including the Islamic ideas of <a href="/wiki/Zakat" title="Zakat">zakat</a> and <a href="/wiki/Riba" title="Riba">riba</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (April 2010)">citation needed</span></a></i>]</sup> Others see Islamic economics as neither completely capitalistic nor completely <a href="/wiki/Socialism" title="Socialism">socialistic</a>, but rather a balance between the two, emphasizing both "individual economic freedom and the need to serve the common good."<sup id="cite_ref-Hamid_14-0" class="reference"><a href="#cite_note-Hamid-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> Others point out that Islam has an inherently capitalist nature and argue this most through respect for private property as the foundation of capitalism in Islam, as well as the historical fact that the <a href="/wiki/Muhammad" title="Muhammad">Muhammad</a> was an entrepreneur, a merchant.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Capitalism_and_Islam&action=edit&section=2" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Islamic_socialism" title="Islamic socialism">Islamic socialism</a></li> <li><a href="/wiki/Religious_views_on_capitalism" title="Religious views on capitalism">Religious views on capitalism</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Capitalism_and_Islam&action=edit&section=3" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-Banaji-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-Banaji_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Banaji_1-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Jairus Banaji (2007), "Islam, the Mediterranean and the rise of capitalism", <i><a href="/wiki/Historical_Materialism_(journal)" title="Historical Materialism (journal)">Historical Materialism</a></i> <b>15</b> (1), pp. 47–74, <a href="/wiki/Brill_Publishers" title="Brill Publishers">Brill Publishers</a>.</span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text">Robert Sabatino Lopez, Irving Woodworth Raymond, Olivia Remie Constable (2001), <i>Medieval Trade in the Mediterranean World: Illustrative Documents</i>, <a href="/wiki/Columbia_University_Press" title="Columbia University Press">Columbia University Press</a>, <style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0231123574" title="Special:BookSources/0231123574">0231123574</a>.</span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text">Subhi Y. Labib (1969), "Capitalism in Medieval Islam", <i>The Journal of Economic History</i> <b>29</b> (1), pp. 79–96 [92–3].</span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text">Ray Spier (2002), "The history of the peer-review process", <i>Trends in Biotechnology</i> <b>20</b> (8), p. 357-358 [357].</span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text">Said Amir Arjomand (1999), "The Law, Agency, and Policy in Medieval Islamic Society: Development of the Institutions of Learning from the Tenth to the Fifteenth Century", <i>Comparative Studies in Society and History</i> <b>41</b>, pp. 263–93. <a href="/wiki/Cambridge_University_Press" title="Cambridge University Press">Cambridge University Press</a>.</span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text">Samir Amin (1978), "The Arab Nation: Some Conclusions and Problems", <i>MERIP Reports</i> <b>68</b>, pp. 3–14 [8, 13].</span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHeck2006" class="citation cs2">Heck, Gene W. (2006), <i>Charlemagne, Muhammad, and the Arab roots of capitalism</i>, <a href="/wiki/Walter_de_Gruyter" class="mw-redirect" title="Walter de Gruyter">Walter de Gruyter</a>, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-3110192292" title="Special:BookSources/978-3110192292"><bdi>978-3110192292</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Charlemagne%2C+Muhammad%2C+and+the+Arab+roots+of+capitalism&rft.pub=Walter+de+Gruyter&rft.date=2006&rft.isbn=978-3110192292&rft.aulast=Heck&rft.aufirst=Gene+W.&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACapitalism+and+Islam" class="Z3988"></span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNolan2007" class="citation cs2">Nolan, Peter (2007), <i>Capitalism and Freedom: The Contradictory Character of Globalisation</i>, Anthem Press, p. 277, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1843312802" title="Special:BookSources/978-1843312802"><bdi>978-1843312802</bdi></a></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Capitalism+and+Freedom%3A+The+Contradictory+Character+of+Globalisation&rft.pages=277&rft.pub=Anthem+Press&rft.date=2007&rft.isbn=978-1843312802&rft.aulast=Nolan&rft.aufirst=Peter&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACapitalism+and+Islam" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text">Maya Shatzmiller, pp. 402–3.</span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text">Judith Tucker (1975), "<i>Islam and Capitalism</i> by Maxime Rodinson", <i>MERIP Reports</i> <b>34</b>, pp. 31–2 [31].</span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text">Subhi Y. Labib (1969), "Capitalism in Medieval Islam", <i>The Journal of Economic History</i> <b>29</b> (1), pp. 79–96 [81–2].</span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"><i>The Cambridge economic history of Europe</i>, pp. 438–40. <a href="/wiki/Cambridge_University_Press" title="Cambridge University Press">Cambridge University Press</a>, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0521087090" title="Special:BookSources/0521087090">0521087090</a>.</span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text">Subhi Y. Labib (1969), "Capitalism in Medieval Islam", <i>The Journal of Economic History</i> <b>29</b> (1), pp. 79–96 [81–4].</span> </li> <li id="cite_note-Hamid-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-Hamid_14-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFShadi_Hamid2003" class="citation cs2">Shadi Hamid (August 2003), "An Islamic Alternative? Equality, Redistributive Justice, and the Welfare State in the Caliphate of Umar", <i>Renaissance: Monthly Islamic Journal</i>, <b>13</b> (8)</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Renaissance%3A+Monthly+Islamic+Journal&rft.atitle=An+Islamic+Alternative%3F+Equality%2C+Redistributive+Justice%2C+and+the+Welfare+State+in+the+Caliphate+of+Umar&rft.volume=13&rft.issue=8&rft.date=2003-08&rft.au=Shadi+Hamid&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACapitalism+and+Islam" class="Z3988"></span> (see <a rel="nofollow" class="external text" href="http://www.renaissance.com.pk/Augvipo2y3.html">online</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20110825064646/http://www.renaissance.com.pk/Augvipo2y3.html">Archived</a> 2011-08-25 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>)</span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.hurriyetdailynews.com/opinion/mustafa-akyol/is-islam-a-socialist-religion---20301">"Is Islam a socialist religion?"</a>. <i>Hürriyet Daily News</i><span class="reference-accessdate">. Retrieved <span class="nowrap">2020-06-24</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=H%C3%BCrriyet+Daily+News&rft.atitle=Is+Islam+a+socialist+religion%3F&rft_id=https%3A%2F%2Fwww.hurriyetdailynews.com%2Fopinion%2Fmustafa-akyol%2Fis-islam-a-socialist-religion---20301&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACapitalism+and+Islam" class="Z3988"></span></span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20200626084042/https://islamandlibertynetwork.org/blog/2015/06/24/admir-cavalic/">"ILN | Economic freedoms in Islamic countries – Admir Čavalić - ILN"</a>. <i>islamandlibertynetwork.org</i>. Archived from <a rel="nofollow" class="external text" href="https://islamandlibertynetwork.org/blog/2015/06/24/admir-cavalic/">the original</a> on 2020-06-26<span class="reference-accessdate">. Retrieved <span class="nowrap">2020-06-24</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=islamandlibertynetwork.org&rft.atitle=ILN+%7C+Economic+freedoms+in+Islamic+countries+%E2%80%93+Admir+%C4%8Cavali%C4%87+-+ILN&rft_id=https%3A%2F%2Fislamandlibertynetwork.org%2Fblog%2F2015%2F06%2F24%2Fadmir-cavalic%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACapitalism+and+Islam" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Capitalism_and_Islam&action=edit&section=4" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Peter_Nolan" title="Peter Nolan">Peter Nolan</a> (2009) <i>Crossroads: The end of wild capitalism</i>. Marshall Cavendish, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780462099682" title="Special:BookSources/9780462099682">9780462099682</a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 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