Abstract
This chapter describes the characteristics of markets in the early stages of Islam and infers their structure, conduct and state of competition. The efficiency of the process of price determination is discussed accordingly. The measures and policies taken to enhance market activities are also described, with particular emphasis on the sanctification of economic activities and its impact on the private sector of the nascent Islamic economy. Finally, the complementary role that markets performed in connection with the Baitu Mal is illustrated.
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Sadr, S.K. (2016). The Markets in the Early Islamic Era. In: The Economic System of the Early Islamic Period. Political Economy of Islam. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-137-50733-4_7
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DOI: https://doi.org/10.1057/978-1-137-50733-4_7
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