Exploring the Influence of Islam on Islamic Economies based on Weber's Theories of the Sociology of Religion

Abstract

As a third way between capitalism and socialism, the Islamic economy has become a distinct presence all over the world. Then reviewing its formation has an essential role to investigate its future, especially for the Islamic economy, which is closely associated with religious ethics. Based on the method of case analysis, this paper explores the Impact of Islam on Islamic Economy with historical evidence based on Weber's sociology of religion on Islam. In the context of the Qur'an and Islamic religious life, provide insight into the contrasts in Islam and Islamic states versus Protestant and Western capitalist countries, which proves Islam has had a significant influence on the Islamic economy in terms of its contribution to the early commodity economy, while its impeding effect of the subsequent birth of capitalism.