Epilogue to the article about economic development of Islamic countries (10)

The article says:

“However the nature of income generation indicates that cultural factors including religion may provide some explanation.

In understanding the current distribution of income between countries, it is important to recognize the process of wealth generation.

The level income of each country for that year does not just represent productive efforts made in that year.

It also represents extent to which each country has been able to utilize past income to accumulate productive resources (capital), which are now used to produce current income.

In this ability of a society to accumulate productive resources – economic development – that religion and culture may have an influence.

It is apparent from the current situation that the Christian countries in general, and over some time, have been more successful at achieving this task and the Muslim countries less so.

The balance of wealth today is largely determined by the location of productive physical capital.”