Islamic Capitalism in Turkey


Kristin E. Fabbe and Ümit Özlale. 2019. “Islamic Capitalism in Turkey.” In Business, Ethics and Institutions: The Evolution of Turkish Capitalism in Global Perspective. New York: Routledge.


This chapter argues that the rise of “Islamic capitalism” and the country’s so-called “conservative bourgeoisie” owes much to the pragmatism and agility of Islamic actors who are quick to seize upon new economic and political opportunities by leveraging religious identity markers, religious discourse, and religious networks. By revealing their pragmatic approach to introducing the idea of Islamic capitalism in Turkey, and especially their efforts to distinguish it from capitalism more generally, the chapter sheds light on how religious and cultural values both shape and are shaped by the economic imperatives of participation in the global economic system.