Islahi, Abdul Azim (2006): Monetary thought of the sixteenth century muslim scholars. Published in: American Journal of Islamic Social Sciences , Vol. 25, No. 4 (2008): pp. 46-60.
Download (161kB) | Preview
Muslim scholars of the sixteenth century continued the tradition of writing on economic issues. Their work, however is characterized by the period's overall feature of imitation and repetition and thus reflects hardly any advancement of monetary thought since the works of earlier Muslim scholars. This is clearly reflected in the two representative treatises on money: those of al-Suyuti (d. 1506) written at the beginning of the century, and al-Tumurtashi (d. 1598), written at its the end. History of Islamic economic thought is a well-researched area of Islamic Economics. To the best of our knowledge, however, all such research stopped at the end of the fifteenth century – the age of Ibn Khaldun and al-Maqrizi. The present paper seeks to advance this research and intends to investigate monetary thought of Muslim scholars during the sixteenth century (corresponding to tenth century Hijrah, exactly from 906 AH to 1009 AH). Beginning with an overview of earlier monetary thought in Islam to provide background information, then it goes on to note that particular century's monetary problems in order to provide a perspective for the discussion of monetary thought among Muslim scholars. For the purpose of comparison, European monetary thought of the same period is also analyzed.
|Item Type:||MPRA Paper|
|Original Title:||Monetary thought of the sixteenth century muslim scholars|
|English Title:||Monetary thought of the sixteenth century muslim scholars|
|Keywords:||Monetary thought; Quantity theory of money;Sixteenth century Monetary Thought; al-Suyuti; al-Tumurtashi.|
|Subjects:||E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E59 - Other
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E50 - General
|Depositing User:||Abdul Azim Islahi|
|Date Deposited:||04. Nov 2009 18:50|
|Last Modified:||24. Aug 2015 23:20|
Gibb, H. A. R. and Bowen, Harold (1965), Islamic Society and the West, London, First edition 1957. Reprint, Oxford, Oxford University Press, 2 volumes, (page references are to reprint edition).
Heckscher, Eli F. (1954), Mercantilism, translated by Mendal Shapiro, London, George Allen and Unwin.
Ibn Khaldun (1967), Muqaddimah of Ibn Khaldun, (An Introduction to History) Translated by Rosenthal, F., New York, Princeton University Press
Islahi, Abdul Azim (2005), Contributions of Muslim Scholars to the History of Economic Thought and Analysis, Jeddah, Scientific Publishing Centre, KAAU.
Islahi, Abdul Azim (1988), Economic Concepts of lbn Taimiyah. The Islamic Foundation, Leicester, U.K.
Lopez, Robert et al (1970) “England to Egypt, 1350-1500: Long-Distance Trade” in: Cook, M.A. (ed.) (1970), Studies in the Economic History of the Middle East, London: Oxford University Press, pp 93-128.
Sahillioglu, Halil (1999), “the Role of International Monetary Metal Movements in Ottoman Monetary History 1300-1700” In: Studies on Ottoman Economic and Social History, Istanbul, IRCICA.
Schumpeter, Joseph A. (1997), History of Economic Analysis, Great Britain, Oxford University Press, 1954, Reprint, London, Routledge. (page references are to reprint edition).
Spiegel, H. W. (1971), The Growth of Economic Thought, Englewood Cliffs, New Jersey: Prentice-Hall Inc.
al-Baladhuri, Ahmad (1983), Futuh al-Buldan, (edited by Ridwan, Ridwan Muhammad), Beirut, Dar al-Kutub al-Ilmiyah.
al-Ghazali, Abu Hamid (n.d.[a]), Ihya Ulum al-Din, Beirut, Dar al Nadwah.
Ibn Iyas, Muhammad b. Ahmad, (1960) Bada'i‛ al-Zuhur fi Waqa'i‛ al-Duhur, Cairo: Lajnat al-Talif wa'l-Tarjamah.
Ibn Qudamah (1972), al-Mughni, Beirut, Dar al-Kitab al-Arabi.
Ibn Taymiyah (1963), Majmu` Fatawa Shaykh al-Islam Ahmad Ibn Taymiyah, edited by al-Najdi, Abd al-Rahman b. Muhammad, Al-Riyad, Matabi` al-Riyad
Malik b. Anas, Imam (1978), al-Mudawwant al-Kubra, part 3, Beirut: Dar al-Fikr.
al-Maqrizi, Muhammad Ali (1940), Ighathat al-Ummah bi Kashf al-Ghummah, Cairo: Lajnah al-Talif wa’l-Tarjamah.
al-Maqrizi, Muhammad Ali (1956), Kitab al-Suluk, Cairo: Lajnah al-Talif wa’l-Tarjamah, Vol. 2.
Qalqshandi, (1913), Subh al-A`sha, Cairo, Dar al-Kutub al-Khadiwiyah, vol. 3
al-Suyuti, Jalal al-Din Abdal-Rahman b. Abi Bakr (2000), al-Hawi li'l-Fatawi, Beirut: Dar al-Kutub al-Ilmiyah, Vol. I.
al-Tumurtashi, Muhammad bin Abd-Allah (2001), Badhl al-majhud fi as’ilat taghayyur al-nuqud” (efforts to solve the questions of changing currencies), edited and annotated by Husam al-Din b. Musa Alaffanah and published from al-Quds (Palestine).