Beyond debt : Islamic experiments in global finance (Book, 2019) [WorldCat.org]
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Beyond debt : Islamic experiments in global finance

Author: Daromir Rudnyckyj
Publisher: Chicago : The University of Chicago Press, 2019. ©2019
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
"Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. This realization has led to cries for change--yet there is little popular awareness of possible alternatives. Beyond Debt describes efforts to create a transnational economy free of debt. Based on ethnographic fieldwork in Malaysia, Daromir Rudnyckyj illustrates how the state, led by the central bank,  Read more...
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Additional Physical Format: Ebook version :
Document Type: Book
All Authors / Contributors: Daromir Rudnyckyj
ISBN: 9780226551920 022655192X 9780226552088 022655208X
OCLC Number: 1028594999
Description: viii, 263 pages : illustrations ; 24 cm
Contents: Introduction: Pious finance in the Islamic global city --
Infrastructure. An infrastructure for Islamic finance --
Expertise in action --
Counterdebt --
Operations. Making bonds Islamic --
Adjacent system or original knowledge? --
Consuming form, investing in substance --
Problematization. Experimenting with risk --
Subjects of debt, subjects of equity --
Conclusion: An emergent geoeconomics --
Appendices: Methodological notes ; Glossary of Islamic financial terms.
Other Titles: Islamic experiments in global finance
Responsibility: Daromir Rudnyckyj.

Abstract:

"Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. This realization has led to cries for change--yet there is little popular awareness of possible alternatives. Beyond Debt describes efforts to create a transnational economy free of debt. Based on ethnographic fieldwork in Malaysia, Daromir Rudnyckyj illustrates how the state, led by the central bank, seeks to make the country's capital Kuala Lumpur 'the New York of the Muslim world'--the central node of global financial activity conducted in accordance with Islam. Rudnyckyj shows how Islamic financial experts have undertaken ambitious experiments to create more stable economies and stronger social solidarities by facilitating risk- and profit-sharing, enhanced entrepreneurial skills, and more collaborative economic action. Building on scholarship that reveals the impact of financial devices on human activity, he illustrates how Islamic finance is deployed to fashion subjects who are at once more pious Muslims and more ambitious entrepreneurs. In so doing, Rudnyckyj shows how experts seek to create a new 'geoeconomics'--a global Islamic alternative to the conventional financial network centered on New York, London, and Tokyo. A groundbreaking analysis of a timely subject, Beyond Debt tells the captivating story of efforts to re-center international finance in an emergent Islamic global city and, ultimately, to challenge the very foundations of conventional finance"--Publisher's description.

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