Being Virtuous in Markets: An Islamic View

In Govert J. Buijs & Jordan J. Ballor, In Search of the Spirits of Capitalism: World Religions on Markets & Morality. Cham: Springer Nature Switzerland. pp. 215-236 (2026)
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Abstract

Traditions reported in the hadith on the vicious or virtuous character of merchants and traders do not contradict one another, but instead convey a common theme, and that is: that the moral disposition of a merchant is the determining factor for one’s eternal salvation (or damnation). It is a simple and straightforward message, yet of the utmost gravity and consequence. Whereas an impious and profligate merchant is forewarned of the utmost punishment, a pious and virtuous merchant is promised the greatest of rewards. As much as the former is a strict caution against immoral market behavior, the latter is an active call to virtuous market conduct. The Prophet’s traditions are in no way a condemnation of markets or market activity, but a most profound summon to merchants to don their market behavior with the cloak of piety and virtue. Far from being censured, such virtuous markets are commended and encouraged.

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Govert Buijs
Vrije University

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