Entrepreneurship and Islam: An Overview

9 Pages Posted: 3 Nov 2018

See all articles by M. Kabir Hassan

M. Kabir Hassan

University of New Orleans - College of Business Administration - Department of Economics and Finance

Will Hippler

University of La Verne

Date Written: 2014

Abstract

Muslim entrepreneurs are compelled by religious laws to abstain from engaging in certain economic and financing activities, such as those involving gambling, usury, and speculation. Western entrepreneurs may choose to forgo certain business opportunities due to religious or moral laws as well; however, these limitations are voluntary and are often less restrictive than those of Shari’ah laws. Religious limitations help to explain differences in entrepreneurial outcomes between Western and Islamic economies. However, direct comparison of the two systems using purely financial benchmarks is inappropriate. Islamic laws argue that the limitations imposed on Muslim entrepreneurs eliminate inherently immoral and unjust economic practices, and their prohibition increases the social value of the economy. Understanding the differences between the motivations of Western and Islamic entrepreneurs is important in determining their relative success.

Keywords: Muslim entrepreneurship, shari'ah law, Islamic economies

Suggested Citation

Hassan, M. Kabir and Hippler, William, Entrepreneurship and Islam: An Overview (2014). Available at SSRN: https://ssrn.com/abstract=3263110 or http://dx.doi.org/10.2139/ssrn.3263110

M. Kabir Hassan (Contact Author)

University of New Orleans - College of Business Administration - Department of Economics and Finance ( email )

2000 Lakeshore Drive
New Orleans, LA 70148
United States

William Hippler

University of La Verne ( email )

1950 Third Street
La Verne, CA 91750
United States

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