Guy Sorman wonders why the Arab world's per-capita income is one-tenth the amount in the US and Europe:
Indeed, from a strictly religious perspective, one could view Muslims as having an advantage at creating wealth. After all, Islam is the only religion founded by a trader—one who also, by the way, married a wealthy merchant. The Koran has only good words for successful businessmen. Entrepreneurs must pay a 2.5 percent tax, the zakat, to the community to support the general welfare, but otherwise can make money guilt-free. Private property is sacred, according to the Koran. All this, needless to say, contrasts with the traditional Christian attitude toward wealth, which puts the poor on the fast track to heaven and looks down in particular on merchants (recall Jesus’s driving them from the Temple).
Sorman spoke with Duke economist Timur Kuran, who believes the blame partially lies with sharia and waqf, or welfare foundations to aid the poor:
According to sharia, all money given to these charities was exempt from taxation. But Muslim merchants began to establish waqf as fronts for commercial enterprises, depriving the government of sufficient funds to function properly. This tax evasion contributed to the failure of the Arab kingdoms and the Ottoman Empire to build a competent minimal state, which is essential to the effective rule of law.
The Dish 