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Did you know that the Prophet Mohammed was a caravan trader? He helped arrange convoys of thousands of camels carrying valuable goods across the Arabian desert. And he put his commercial nous to good use. Not only did he found one of the world's great religions, but also a model of free-market capitalism that Friedrich Hayek would have approved of. That is the claim of this week's guest, the libertarian economist and author Benedikt Koehler. He tells hosts Robin Wigglesworth and Gillian Tett how Islamic commercial practices were, in his view, eventually copied by medieval Europeans to great effect.
The Story of Money with Gillian Tett & Robin Wigglesworth | Financial Times
Further reading:
Early Islam and the Birth of Capitalism (2014), by Benedikt Koehler
A Drop from the Well
