About this second part
Part 1 of this paper drew twenty-five lessons from the Financial Times podcast The Story of Money and its discussion of the commercial life of Prophet Muhammad ﷺ with Benedikt Koehler.
That paper covered the ground most directly: character before capital, risk-sharing, the Madinah market, price formation, information, trust, taqwa, wealth and its duties, Khadijah رضي الله عنها, and the debate over what Europe borrowed.
Yet the conversation contains more than one layer. When I returned to it, further lessons kept surfacing. Lessons about formation, about institutions, about power and its restraint, about minorities, about decline, and about starting again.