I read a book about the diamond trade and how religious communities foster successful enterprises in that area, which would otherwise probably not be possible to the same extent by relying only on states' courts.
The book mentions Jews and some groups in India as the best. Islam is only mentioned once by association with hawala (a form of bank transfer network).
If Islam is so good, why is it apparently not represented among the best diamond traders? Do they beat Jews and Indians in other business areas? Which?
"Good business" and "successful business" are not synonymous. A would define a good business as one that provides good products or services and is successful. This is currently impossible since the consumer only wants bad products and services, so one cannot be successful by providing good products or services.
In the current environment, a successful business requires gang warfare mentality. This is why I wrote the post State of the World where I said "Muslims are economic pacifists, so they lose every economic battle."
I believe that there is a solution to this problem based on building trust networks on the internet. Within trust networks of Muslims, it should be possible to have good businesses that sell within these networks. I am discussing this idea with people at my mosque. If we can reach an agreement on this, I will implement it.