Economy in practice: Islamic finance and the problem of market reason

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dc.contributor.authorRudnyckyj, Daromir
dc.date.accessioned2025-06-04T15:55:08Z
dc.date.available2025-06-04T15:55:08Z
dc.date.issued2014
dc.description.abstractProponents of Islamic finance are working to make Kuala Lumpur the “New York of the Muslim World”: the central node in a global Islamic alternative to the conventional financial system. Amidst this ambitious project, I document how Islamic finance experts represent economic rationality as an object of reflection and I examine their responses to the economism intrinsic to market reason. Islamic finance is not wholly opposed to economic rationality, but the market calculations endemic to what experts term “conventional finance” serve as an unavoidable point of reference, comparison, and differentiation. I refer to reflection on economic rationality as “economy in practice,” a conceptualization that seeks to illuminate the various techniques through which humans are made economic subjects.
dc.description.reviewstatusReviewed
dc.description.scholarlevelFaculty
dc.description.sponsorshipThis research project was generously funded by an Insight Development Grant and a Standard Research Grant, both courtesy of the Social Sciences and Humanities Research Council of Canada. I am profoundly grateful for this assistance.
dc.identifier.citationRudnyckyj, D. (2014). Economy in practice: Islamic finance and the problem of market reason. American Ethnologist, 41(1), 110–127. https://doi.org/10.1111/amet.12063
dc.identifier.urihttps://doi.org/10.1111/amet.12063
dc.identifier.urihttps://hdl.handle.net/1828/22336
dc.language.isoen
dc.publisherAmerican Ethnologist
dc.subjecteconomic rationality
dc.subjectexpertise
dc.subjectfinance
dc.subjectglobalization
dc.subjectIslam
dc.subjectneoliberalism
dc.subjectreflexivity
dc.titleEconomy in practice: Islamic finance and the problem of market reason
dc.typePostprint

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