Sergio Orozco
Mr. Garcia
Fall 2023
ANTHRO 202 B TR
1. Explain in one full paragraph (4-6 sentences) how anthropology contributes to the study of
the financial markets, money, and the wider economy.
Think about the reading and the
relationships between power, wealth, and culture.
Because it shows how deeply ingrained social interactions, cultural values, and religious
beliefs are in economic decision-making, anthropology makes a substantial contribution to the
study of money, financial markets, and the wider economy. Anthropologists emphasize in the
text that social and cultural contexts influence economic decisions rather than being solely
rational or self-interested.
2.
Briefly describe how Shariah influences Islamic banking.
Shariah has an impact on Islamic banking since it forbids riba or the charging of interest.
By abstaining from usury and encouraging moral financial conduct, Islamic banking seeks to
uphold Shariah values. Islamic substitutes, including partnership agreements or leasing
contracts, are used in place of traditional interest-bearing loans.
3.
Write a paragraph discussing the ethics of capitalistic financial institutions.
Does religion
influence our financial markets? How or Why not?
Remember to be objective and to provide
specific examples that are well supported with evidence.
It is generally accepted that religion has an impact on financial markets and that the
morality of capitalistic financial organizations is under investigation. The recent global financial
crisis is used as an example, with its origins being attributed to the complicated packaging of
these debts and the marketing of debt to people who could not repay it. Economic decisions are
not value-neutral; rather, they are strongly influenced by social norms and cultural values, as
demonstrated by anthropology. According to the text, following religious precepts like those
found in Islamic finance, can provide morally sound substitutes for traditional financial methods.
But it also calls into question diversity, since Islamic mortgages that require substantial down
payments can keep less fortunate people from becoming homeowners. This raises the question
of whether following religious teachings should take precedence over more general social
objectives of financial inclusion.
