Mutual life, limited : Islamic banking, alternative currencies, lateral reason PDF
Preview Mutual life, limited : Islamic banking, alternative currencies, lateral reason
Mutual Life, Limited Mutual Life, Limited ISLAMIC BANKING, ALTERNATIVE CURRENCIES, LATERAL REASON Bill Maurer PRINCETON UNIVERSITY PRESS PRINCETON AND OXFORD Copyright©2005byPrincetonUniversityPress PublishedbyPrincetonUniversityPress, 41WilliamStreet,Princeton,NewJersey,08540 IntheUnitedKingdom:PrincetonUniversityPress, 3MarketPlace,Woodstock,OxfordshireOX201SY AllRightsReserved LibraryofCongressCataloging-in-PublicationData Maurer,Bill,1968– Mutuallife,limited:Islamicbanking,alternativecurrencies, lateralreason/BillMaurer. p.cm. Includesbibliographicalreferencesandindex. ISBN0-691-12196-6(alk.paper)—ISBN0-691-12197-4(alk.paper) 1.Banksandbanking—Religiousaspects—Islam.2.Banksandbanking— Islamiccountries.3.Finance—Religiousaspects—Islam.4.Finance— Islamiccountries.5.Money.6.Currencyquestion.I.Title. HG3368.A6M3782005 332.1′0917′67—dc22 2004019757 BritishLibraryCataloging-in-PublicationDataisavailable ThisbookhasbeencomposedinJanson Printedonacid-freepaper.∞ pup.princeton.edu PrintedintheUnitedStatesofAmerica 10 9 8 7 6 5 4 3 2 1 For Tom, side by side. And for S., B., G., and G., in that order. Fragment of an Ancient Mythologist “InanislandneartheOrcades,achildwasbornwhosefatherwasAeolus, thegodofthewinds,andhismotheranymphofCaledonia.Theytellof himthathelearnedunaidedtocountwithhisfingers;andthatfromhis fourthyearhedistinguishedmetalssowell,thathismotherhavinggiven himaringoftininexchangeforoneofgold,heperceivedthedeceit,and threwitaway. “Whenhehadgrownup,hisfathertaughthimthesecretofenclosing thewindsinskins,whichheafterwardssoldtoallthetravelers:butas thetradeinwindswasnotverybriskinhiscountry,heleftit,andwentup anddowntheworld,accompaniedbytheblindgodofchance. “DuringhistravelshelearnedthatgoldglitteredineverypartofBetica; andhehurriedthitheratonce.HewasverybadlyreceivedbySaturn,who reignedthen:butthatgodhavingquittedtheearth,hejudgeditwiseto gointoallthecross-roadsandcrycontinuallyinahoarsevoice,‘Peopleof Betica,youthinkyourselvesrich,becauseyouhavesilverandgold!Ipity yourerror.Beruledbyme:leavethelandofthebasemetals;comeintothe empireoftheimagination,andIpromiseyouricheswhichastonisheven you.’Heimmediatelyopenedagreatnumberoftheskinswhichhehad broughtwithhim,anddealtouthismerchandisetoallwhowishedit. “Nextmorninghereturnedtothesamecross-roads,andcried,‘People ofBetica,wouldyouberich?ImaginethatIamveryrich,andthatyouare veryrich:getyourselvesintothebeliefeverymorningthatyourfortune hasbeendoubledduringthenight:rise,then,andifyouhaveanycreditors, goandpaythemwithwhatyouhaveimagined,andtellthemtoimagine intheirturn.’ “Afewdaysafterheappearedagain,andspokeasfollows:‘Peopleof Betica,Iperceivethatyourimaginationisweakerthanitwasadayortwo ago;trytobringituptothestrengthofmine:Iwillplacebeforeyouevery morningabill,whichwillbethesourceofwealthforyou:youwillsee onlyfourwords,buttheywillbeofthehighestsignificance,astheywill settletheportionsofyourwives,thefortunesofyourchildren,andthe numberofyourdomestics.And,asforyou’—addressingthoseofthecrowd whowerenearesthim—‘asforyou,mydearchildren(Imaycallyouby thatname,sinceyouhavereceivedfrommeasecondbirth),mybillshall decideastothemagnificenceofyourequipages,thesplendourofyourfeasts, andthenumberandpensionsofyourmistresses.’ “Somedayslaterhecameintothestreet,quiteoutofbreath,andcried outinaviolentpassion,‘PeopleofBetica,Icounseledyoutoimagine, viii • Fragment of an Ancient Mythologist butyouhavenotdoneso:wellthen,Inowcommandyoutoimagine.’ Withthatheleftthemabruptly;butonsecondthoughtsretracedhis steps.‘Iunderstandthatsomeofyouareodiousenoughtokeepyourgold andsilver.Forthesilver,letitgo:butthegold...thegold...Ah!Thatstirs myanger!...Iswear,bymysacredwindbags,thatifyoudonotbringit tome,Iwillinflictdirepunishmentuponyou.’Thenheadded,inthe most seductive manner imaginable, ‘Do you think it is to keep these wretchedmetalsthatIaskthemfromyou?Aproofofmygoodfaithis, thatwhenyoubroughtmethemsomedaysago,Igaveyoubackatonce onehalf.’ “Nextday,hekeptatsomedistance,andendeavoredwithsoftandflat- teringvoicetowormhimselfintotheirfavor.‘PeopleofBetica,Ilearn thataportionofyourwealthisinforeigncountries:Ibegyoutohaveit senttome;itwillobligemeverymuch,andIwillneverforgetyourkindness.’ “ThesonofAeoluswasaddressingpeoplewhowereinnomoodtobe amused,yettheycouldnotrestraintheirlaughter;whichcausedhimto slinkawayinashame-facedmanner.But,hiscouragehavingreturned,he riskedanotherlittlepetition.‘Iknowthatyouhavepreciousstones:in thenameofJupiter,getridofthem;nothingwillsoimpoverishyouas thingsofthatkind;getridofthem,Itellyou.Shouldyoubeunableto dosoyourselves,Icanprovideexcellentagents.Whatwealthwillpourin uponyou,ifyoufollowmyadvice!Yes,Ipromiseyoutheverybestmy windbagscontain.’ “Thenhegotuponaplatform,and,inamoreresolutetone,said,‘Peo- pleofBetica,Ihavecomparedthehappyconditioninwhichyounoware withthatinwhichIfoundyouwhenIfirstcamehere;Ibeholdyouthe richestpeopleintheworld:but,inordertocrownyourgoodfortune, allowmetodepriveyouofthehalfofyourwealth.’Withthesewords,the sonofAeolussoaredawayonrapidwings,andlefthisaudiencedumb withamazement,aresultwhichbroughthimbacknextday,whenhespoke asfollows:‘Iperceivedyesterdaythatmyspeechdispleasedyouvery much.Verywell!supposethatIhavesaidnothingatallasyet.Itisquite true;onehalfistoomuch.Wemustfindsomeotherexpedienttoarrive attheresultwhichIhaveproposed.Letusgatherallourwealthintoone place;wecandosoeasily,becauseitdoesnotoccupymuchspace.’Im- mediatelythree-quartersoftheirwealthhaddisappeared.” —Montesquieu,1899.PersianLetters.TranslatedbyJohnDavidson London:GibbingsandCo.Letter142. Contents ListofIllustrationsandTables xi Preface xiii Acknowledgments xvii ANoteonTransliteration xxi INTRODUCTION LateralReasonsforaPost-reflexiveAnthropology 1 CHAPTER1 IntheMatterofIslamicBankingandLocalCurrencies 24 CHAPTER2 OfLawandBelief 55 CHAPTER3 OfMonetaryAlternativesandtheLimitsofValuesPast 77 CHAPTER4 InnumerateEquivalencies:MakingChangewith AlternativeCurrencies 100 CHAPTER5 Wiseman’sandFool’sGold 122 CHAPTER6 MutualLife,Limited:Insurance,MoralValue,and BureaucraticForm 136 CONCLUSION RestagingAbstractionandAdequation 154 Notes 169 ReferencesCited 185 Index 205
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