Wednesday, April 30, 2014

Epilogue to the article about economic development of Islamic countries (12)

Then he writes:
“The territorial gains via imperialism no doubt provided some assistance but were not the main factor.
Principally, the necessary historical ingredients were scientific method and the rule of law – market forces then did the rest.
The application of scientific method gave rise to discoveries that made the industrial revolution possible.
The rule of law… …protection of private property rights and later individual rights, enabled a climate whereby the fruits of labor were relatively free from confiscation and destruction.
In this benign legal environment, market forces then gave rise to the process of accumulation of physical capital and wealth.
The major role that Christianity played in this, by constraining the use of scientific method, was to prevent it happening for centuries.
It was the forces of the Enlightenment that finally weakened the power of religion to interfere in this process.

The role Islam played in this process was to prevent it developing in its own societies, despite its early lead, and then do delay and hinder is introduction and importation from the West.”

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