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In the 10th century, Europe and the Middle East had comparable levels of economic development. Over the next several centuries, however, Christian Europe raced ahead of Muslim societies, developing the institutions that led to the Industrial Revolution and modern capitalism. Timur Kuran (Duke University) explains the role that Islamic Law played in this “long divergence.”

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Did religion or church-state institutions have anything to do with the great economic divergence between Christian Europe and the Islamic world beginning in the 11th century? Prof. Jared Rubin of Chapman University reviews the economic history of these two civilizations, covers the dominant explanations for the observed divergence, and then discusses his own research showing that the relationship between religious and political authorities in each region of the world had a great deal to do with why Europe surged ahead economically. We focus primarily on the role of usury laws and financial interest, but Prof. Rubin gives us a taste of some of his work relating to the economic importance of the printing press.

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[ READ THE FULL ARTICLE ]

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In the 10th century, Europe and the Middle East had comparable levels of economic development. Over the next several centuries, however, Christian Europe raced ahead of Muslim societies, developing the institutions that led to the Industrial Revolution and modern capitalism. Timur Kuran (Duke University) explains the role that Islamic Law played in this “long divergence.” (To download, right click on the button at the right and choose “save target as…”)

[ READ THE FULL ARTICLE ]

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