Hendrich Muslims Capitalism Content.pdf

Why has the Islamic economy, as a model of socioeconomic development, gained traction as a viable option? The existing literature suggests that the Islamic economy has been popularized by a combination of factors, including anticolonial movements, a global renewal of religiosity, and the activities of new social strata who merge piety with capitalist orientations. These approaches, however, tend to homogenize social actors, subsuming them under the overarching label of Islamism. In contrast, this article employs the lens of " intra-hegemonic struggles " to identify three competing orientations of Islamism and their manifestation in the economy. Drawing on eighteen months of fieldwork in Kazakhstan and Kyrgyzstan, it argues that this contestation motivates diverse segments of the society to create and engage in the Islamic economy, rather than any single state-driven or identity-based movement. The article synthesizes three otherwise isolated bodies of work: the political sociology of articulation, new theories of Islamism, and the concept of imaginaries from economic sociology.

Kitab Mehal , 2016

Can capitalism be transcended? Is capitalist order natural or merely historical? At least until the rise of Gorbachev most Marxists seemed to believe in the possibility – perhaps the inevitably – of the transcendence of capitalism. This belief seems to have been abandoned by all socialists, even by China and Cuba and the CPI (M) which rules India’s Bengal. These regimes mimick the market, welcome Western cultural imports and institutionalize democratic practices. The socialist challenge to the capitalist system as a whole has disappeared – although post modernist single issue movements, (anti globalization, feminism, gay rights, environmentalism, all partly influenced by socialist thought) continue to appose isolated aspects of capitalist order. Transcending capitalist order – its norms, regulatory regimes transactional forms – is not on the agenda of any of these single issue movements. Is it on the agenda of Islamic revolutionaries? Huntington seems to think it is, for he speaks of “a clash of civilizations” (it is one of the great merits of Huntingten’s work that he implicitly equates Western “civilization” with capitalism). Others (e.g. Roxana Euben, Joseph Nye) speak of a “civil war in Islam” in which the West has become entangled reluctantly. Does this “civil war” pose a threat to the existence of capitalism as a world order? What sort of state will the Mujahideen establish, a national Islamic state seeking its “rightful” place in global capitalist order? Or a universal state threatening capitalism with permanent revolution? There is certainly an intellectual divide, if not a “civil war”-in the Muslim world. A sizeable proportion of the Muslim intelligence sees capitalist order as natural and subordination of Islam to capitalist order as inevitable (indeed desirable). Most of the leaders of Muslim thought – the ulema and the soofia – are non committal. They do not fully appreciate capitalism as a world order and are somewhat confused and bewildered by the systemic challenges posed by the Mujahideen. A microscopic minority of Muslim thinkers is beginning to theorize the Islamic struggle against capitalist world order. This book seeks to make a preliminary statement of the Islamic case against capitalism. We Muslims would like to understand the West’s claims about the universality and necessity of its fundamental modes of historical experience, its claims that there are no alternatives to capitalism and democracy. (This is a draft version & sans appendices)

Edward Elgar Publishing eBooks, 2014

Ideal Islamic Economy, 2017

More or less final draft of a paper presented to a recent workshop on “Religion and Capitalism” organized by Prof. Pritam Singh at Oxford Brookes on 21 June, 2017 (with thanks to Pritam Singh, Adam Hanieh, and Barbara Harriss-White especially). A very slightly revised version of this will appear as an appendix to my Haymarket book "A Brief History of Commercial Capitalism", to be published in August 2020. Note that the Arabic transcriptions systematically omit subscript dots.

CEREM (Central European Review of Economics and Management), vol. 3 no. 4, 2019

Aim: This article takes a critical look at the claims made by advocates of an Islamic economy, in particular that it differs fundamentally from capitalism and socialism because it is built "on a superior ethical basis. The aim is to find out whether this claim can be creditably sustained and why it is made. Design: The world view behind the Islamic economy is probed into by means of a literature study encompassing publications by prominent students of Islam and Islamic economics, predominantly themselves Muslims, which have appeared in a wide range of professional books, magazines and paper series. Conclusions: It is concluded that an Islamic economic system does not differ fundamentally from mixed-economy non-Islamic ones and that there is little reason for non-Muslims to accord Islamic ethics special status. Further, it is found that important drivers of the attempts to Islamize the economy are frustration about the sorrow state of the Islamic world at least since the early nineteenth century and a wish to regain something of its former glory. In other words, identity politics is at play. There may an element of subjectivity in this conclusion, as it depends on interpretations that are hard to prove or disprove conclusively, but statements by leading Muslim advocates of Islam economists give it weight. The conclusion may help to interpret developments in the Muslim world, which is an indispensable step in finding a way to deal with them.

1992

Reading Comprehension, Language & Writing

Mycosphere, 2023

Journal of Environmental Management, 2024

Traditional Environmental, Social, and Governance (ESG) metrics have primarily focused on promoting sustainable finance, positive screening, and sustainability reporting. However, recent research highlights the urgency for greater accountability and action to counter species extinction. This article explores the potential of ESG frameworks in guiding corporate and managerial decision-making to address biodiversity loss. As the current ESG indicators exhibit an anthropocentric bias, limiting their effectiveness for protecting biodiversity, this article aims to strategically integrate pragmatic extinction accounting with an ecocentric (deep ecology) perspective. This perspective addresses the root causes of biodiversity loss and offers support to species that are perceived as economically, socially, or culturally unimportant. We present our findings as a call to all stakeholders—business and policy decision-makers, conservationists, and environmental organisations—to formulate robust, inclusive, and ecologically sensitive strategies incorporating deep ecological perspectives. The findings of this study include recommendations for the Global Reporting Initiative (GRI).