This article attempts to reconsider the controversial relationship between Islam and economic development. It does so by deeply engaging the views of Weber and Baqir as‐Sadr. According to Sadr, the development of capitalism in Europe is a consequence of the moral practice of Western societies, which is fundamentally different from that of Islamic societies. This divergence in moral practices translates into a divergence in economic doctrine, resulting in an incompatibility between the capitalist method and the moral practice of Islamic societies.