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The emergence of mercantilism as a reaction against Muslim power: some of the evidences from history

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  • Islahi, Abdul Azim

Abstract

In the early modern period, changing attitude of Medieval Europe towards trade as an outcome of encounter with Muslim scholars and rulers and consequently emergence of 'mercantilism' was a turning point in the history of economic thought. The paper documents evidences which prove that initially mercantilism was a reaction against Muslim powers. In the rise of mercantilism, discovery of the New World is considered a significant factor. The main objective before explorers and pioneers of mercantilism was to strengthen their governments through the acquisition of precious metal to regain the Holy Places, defeat the enemy, check the expanding power of Muslim rivals and spread Christianity. However, later it ended up in an effective economic movement.

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  • Islahi, Abdul Azim, 2006. "The emergence of mercantilism as a reaction against Muslim power: some of the evidences from history," MPRA Paper 18384, University Library of Munich, Germany, revised 18 Feb 2007.
    • Handle: RePEc:pra:mprapa:18384
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    1. Islahi, Abdul Azim, 2005. "Contributions of Muslim Scholars to the History of Economic Thought and Analysis upto 15th Century," MPRA Paper 53462, University Library of Munich, Germany.
    2. Abdul Azim Islahi, 2005. "Contributions of Muslim Scholars to Economic Thought and Analysis مساهمات علماء المسلمين في الفكر والتحليل الاقتصادي," Books published by the Islamic Economics Institute, KAAU., King Abdulaziz University, Islamic Economics Institute., edition 1, number 38, July.
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    Cited by:

    1. Ramon VERRIER, 2012. "An Introduction To Islamic Economic Thought (Iet) مقدمة لفكرة اقتصادية إسلامية," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي - مختارة من حوارات الأربعاء - 07, edition 1, chapter 9, pages 663-682, King Abdulaziz University, Islamic Economics Institute..
    2. Mohamed Ali Elgari, 2012. "Sukuk, An Economic and Shari'ah Examination الصكوك: نظرة اقتصادية وشرعية," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي - مختارة من حوارات الأربعاء - 07-, edition 1, chapter 3, pages 509-520, King Abdulaziz University, Islamic Economics Institute..
    3. Mohammed Obaidullah, 2012. "Islamic Microfinance: Lessons from Good & Bad Practices التمويل الإسلامي الأصغر: دروس من التطبيقات الجيدة والسيئة," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي - مختارة من حوارات الأربعاء - 07, edition 1, chapter 7, pages 611-625, King Abdulaziz University, Islamic Economics Institute..
    4. M. Umer Chapra, 2012. "The Islamic Vision of Development in the Light of Maqasid Al-Shariah الرؤية الإسلامية للتنمية في ضوء مقاصد الشريعة," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي - مختارة من حوارات الأربعاء - 07, edition 1, chapter 5, pages 539-590, King Abdulaziz University, Islamic Economics Institute..
    5. Abdul Azim Islahi, 2012. "A Critical Study of The Long Divergence: How Islamic Law Held Back the Middle East Timur Kuran (2011) دراسة نقدية عن التباعد الطويل: كيف أعاد القانون الإسلامي إعادة الشرق الأوسط تيمور كوران (2011)," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي - مختارة من حوارات الأربعاء - 07, edition 1, chapter 10, pages 683-692, King Abdulaziz University, Islamic Economics Institute..
    6. Islahi, Abdul Azim, 1991. "Mercantilism and the Muslim states: Lessons from the history," MPRA Paper 22632, University Library of Munich, Germany, revised 1991.
    7. Sami Al-Suwailem, 2012. "Islamic Approach To Risk المخاطرة في المفهوم الإسلامي," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي ، مختارة من حوارات الأربعاء - 07, edition 1, chapter 1, pages 461-487, King Abdulaziz University, Islamic Economics Institute..
    8. M. Houssem eddine BEDOUI, 2012. "Shariah-based Ethical Performance Measurement Framework الإطار القائم على الشريعة لمقياس الأداء الأخلاقي," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي ، مختارة من حوارات الأربعاء - 07, edition 1, chapter 4, pages 521-538, King Abdulaziz University, Islamic Economics Institute..
    9. Islahi, Abdul Azim, 2012. "The long diverfence: how Islamic law held back the Middle East by Timur Kuran," MPRA Paper 40877, University Library of Munich, Germany, revised 2012.
    10. Islahi, Abdul Azim, 2014. "What Did Hold Back the Middle East? The Thesis of The Long Divergence Revisited," MPRA Paper 75263, University Library of Munich, Germany, revised 2015.
    11. Adel HARZI, 2012. "The Impact of Basel III on Islamic Banks: A Theoretical Study and Comparison with Conventional Banks أثر بازل 3 على المصارف الإسلامية: دراسة نظرية مقارنة مع المصارف التقليدية," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي - مختارة من حوارات الأربعاء - 07, edition 1, chapter 6, pages 591-610, King Abdulaziz University, Islamic Economics Institute..
    12. Munawar Iqbal, 2012. "Creditor-Debtor Relations: Some Issues, Some Proposals علاقات الدائن والمدين: بعض القضايا والمقترحات," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي - مختارة من حوارات الأربعاء - 07, edition 1, chapter 8, pages 627-662, King Abdulaziz University, Islamic Economics Institute..
    13. Armen Papazian, 2012. "A PRODUCT THAT CAN SAVE A SYSTEM: Public Capitalization Notes منتج يستطيع إنقاذ النظام: شهادات الرسملة العامة," Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members., in: Islamic Economics Institute (ed.),Lectures in Islamic Economics and Finance, Selected From Wednesday Seminars-07 محاضرات في الاقتصاد والتمويل الإسلامي - مختارة من حوارات الأربعاء - 07, edition 1, chapter 2, pages 490-508, King Abdulaziz University, Islamic Economics Institute..
    14. Islahi, Abdul Azim, 2012. "Book review: The long divergence: how Islamic law held back the Middle East by Timur Kuran," MPRA Paper 42146, University Library of Munich, Germany, revised 2012.

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    More about this item

    Keywords

    Mercantilism; History of Economic Thought; Medieval Economic History.;
    All these keywords.

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary

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