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Cross-Cultural Encounters and Conflicts$
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Charles Issawi

Print publication date: 1998

Print ISBN-13: 9780195118131

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780195118131.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use.date: 16 May 2022

The Ottoman Economic Legacy

The Ottoman Economic Legacy

(p.79) Five The Ottoman Economic Legacy
Cross-Cultural Encounters and Conflicts

Charles Issawi

Oxford University Press

This chapter discusses the Ottoman's failure to develop an economic theory of their own, or to assimilate the one emerging in Europe. The structure of Ottoman society and the political power enjoyed by the bureaucracy and army as opposed to the producing classes composed of the farmers and craftsmen are stated by this chapter to be two causes of the said inadequacy of some Ottoman economic institutions. The Ottoman policy was primarily concerned with fiscal considerations and with the interest of consumers until the very end of the empire. These attitudes and processes were passed on to the Arab successor states. It is noted, however, that Ottoman laws regarding minerals gave the right to the subsoil to the state and not to the owner of the soil. This proved ideal for petroleum development in the last century and the chapter explains the phenomenal productivity and profitability of the Gulf petroleum industry.

Keywords:   Ottoman, economic theory, Gulf petroleum, Ottoman society, policy

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