Munich Personal RePEc Archive

Islam and Christianity: symbiosis of civilizations

Cizakca, Murat (2006): Islam and Christianity: symbiosis of civilizations.

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Abstract

It is argued in this paper that Islam had developed its own capitalistic system centuries before the West. This was an economic system based upon constrained maximization, the constraint being imposed by the teachings of classical Islam. Notwithstanding this difference with western capitalism, which does not normally recognize any moral constraints, the two capitalisms constitute a potential area of symbiosis between the two civilizations. Economic contribution of Muslims to the emergence of modern Europe is also emphasized. Thus, economic/institutional history indicates to a long lasting symbiosis rather than a clash between these civilizations.

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