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Islam and the Moral Economy: The Challenge of Capitalism

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This is a well-written book by Charles Tripp, a Reader in Politics in the Department of Political and International Relations in the School of Oriental and African Studies, University of London. His many publications include Iran and Iraq War (1988), Iran–Saudi Arabian Relations and Regional Order (1996), and A History of Iraq (2000, 2002).

The book deals essentially with the intellectual response of the Muslim world to the secular and material ethos of Western civilization during the latter's penetration of nearly all aspects of Muslim life, including philosophy, education, politics, society and economics.

The front cover of the book clearly reflects this theme by depicting Muslim civilization as a shabbily dressed poor labourer standing perplexed in front of an ATM (automatic teller machine), with his legs crossed and one slipper off, trying to figure out what to do. The ATM stands for Western civilization with its advanced technology, which has developed, according to Tripp, as a result of the tremendous growth made possible by the social and economic dynamism of capitalism. The Muslim response has taken the form of a wide range of strategies developed by Muslim scholars to remain true to their faith. The breadth of literature covered by Tripp shows that he has read extensively to make himself aware of the nature of the response.

Tripp accepts that the distinguishing characteristic of capitalism is not necessarily the market economy which has long existed around the world. It is rather the transformation of the market into a 'supreme institution and dominant metaphor for most social transactions' such that 'ethical constraints are no longer considered part of the process' (p. 5).

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