CHAPTER FIVETHE ABBASÌD’S GOLDEN AGE
THE FLORESCENCE OF ISLAMIC ECONOMICS
(750 A.C.–1000 A.C.)IntroductionThe period under examination in this chapter is that from the mid
eighth to the late tenth century. It is a particularly interesting period
for several reasons. Firstly, the period witnessed the change of the
caliphate from the short lived Umayyad dynasty to the much longer
surviving Abbasìd dynasty. Secondly, during that period the Islamic
empire reached its widest and most consolidated formation. Thirdly,
it witnessed an enormous scale of Islamic urbanisation and trade
that stretched from India in the east to Spain in the west. Fourthly,
during that time the Islamic empire reached a high level of state
administration and cultural development. Fifthly, it was the period
when Islamic writing on economic issues appeared in specialised
work for the first time. Finally, the period ended with the decline
of the Islamic empire and the beginning of the Crusades. More
interestingly, the period provides a sharp contrast between the East
and the West. It was the time when the West was primitive, back-
ward and primarily rural, while the East maintained and developed
the traditions of wealth, cultural and artistic achievement.
Leading Specialised Work on Islamic EconomicsThe first general observation about the leading specialised work on
Islamic economics is that the work was broadly on state finance and
taxation. This could be attributed to various factors: (a) the com-
plexity of the subject, which had increased as a result of the fur-
ther expansion of the state, (b) the changing of the structure of
tenure and ownership of agricultural land between Muslims and
non-Muslims, (c) the continuing dominance of agriculture as a prime