Early Islam and the Birth of Capitalism proposes a strikingly original thesis—that capitalism first emerged in Arabia …, not in late medieval Italian city states as is commonly assumed. Early Islam made a seminal but largely unrecognized … dynasty of religious, civil, and commercial leaders, Muhammad was a successful businessman before founding Islam. As such, the …

of Islam as a destabilizing factor should not be overestimated, it is a determining characteristic regarding the region … the prevalent Russian institutional vacuum with a focus on Islam and its local characteristics. Then it is questioned … whether sustainable socio-economic development is possible within the prevalent institutional environment and whether Islam …