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Islam and private property

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  • François Facchini

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, EDJ - Laboratoire EDJ Economie-Droit-Justice - URCA - Université de Reims Champagne-Ardenne)

Abstract

This article argues that the relative absence of economic freedoms in the countries of the Muslim world can be explained by the history of Muslim law, and more particularly by its conception of property rights. It shows that the main obstacle to the emergence of private property has been the status of land, originating out of the domination of the first caliphates. It recalls the effects of formal inequalities between individuals (men – women, men – slaves, Muslims – non-Muslims) on the one hand, and the effects of property restrictions on economic development on the other, but maintains that the heart of the blockage lies in the legal status of land, a status which protects public ownership and even extends it to cover water rights. This encloses the economy in a philosophy of enrichment where the opportunities for profit are artificially created through the rents seized by the ruling class. The conclusion is devoted to the future of economic freedom in the Muslim world.

Suggested Citation

  • François Facchini, 2007. "Islam and private property," Working Papers hal-00270475, HAL.
    • Handle: RePEc:hal:wpaper:hal-00270475
    Note: View the original document on HAL open archive server: https://hal.science/hal-00270475
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    References listed on IDEAS

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