2022
DOI: 10.55237/jie.1061492
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Ibn Khaldun's Economic Theories Revisited

Abstract: The aim of this study is to analyze Ibn Khaldun's economic theory. Ibn Khaldun, though recognized as a father of sociologist, gets little attention to his contribution in the economic field. His economic thought laid the very foundation for modern economics. He first, scientifically examined economic activities. Moreover, his systematic thinking has given the instinct to formulate the demand and supply rules and value of labor theory. He focused on the state's role in the economy and its consequences when the… Show more

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Cited by 3 publications
(4 citation statements)
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“…The labor factors identi ed by Ibn Khaldun may be succinctly described as the primary catalysts for production, pro tability, national prosperity, and the advancement of civilization (Mouhammed 2007;Mohamed 2006). Al Mamun et al (2022), Kholiq et al (2022), and Chabani (2021) highlight that Ibn Khaldun provided a detailed explanation of the interplay between supply and demand. He argued that demand leads to higher pro ts and opens up additional prospects for increasing supply.…”
Section: Literature Review On the Economic Perspective Of Ibn Khaldunmentioning
confidence: 99%
“…The labor factors identi ed by Ibn Khaldun may be succinctly described as the primary catalysts for production, pro tability, national prosperity, and the advancement of civilization (Mouhammed 2007;Mohamed 2006). Al Mamun et al (2022), Kholiq et al (2022), and Chabani (2021) highlight that Ibn Khaldun provided a detailed explanation of the interplay between supply and demand. He argued that demand leads to higher pro ts and opens up additional prospects for increasing supply.…”
Section: Literature Review On the Economic Perspective Of Ibn Khaldunmentioning
confidence: 99%
“…Furthermore, Ibn Khaldun's economic thought emphasized Islamic principles and moral values, and he was the first to study economic growth scientifically (Al Mamun et al, 2022). Apart from that, Al Mamun et al (2022) also explained that Ibn Khaldun's ideas about the economy, economic surplus, and economic-oriented initiatives are still as relevant today as they were at the time. Ibn Khaldun's economic thoughts can be traced through textual exegesis (text analysis) (Mujahidin, 2018).…”
Section: Previous Studymentioning
confidence: 99%
“…According to Boulakia (1971), Ibn Khaldun believes that craftsmen and industrialists play an important role in the growth of a country (Oweiss, 2023). Ibn Khaldun also emphasized reducing government spending on mercenaries, which has encouraged many developed countries to follow his advice (Al Mamun et al, 2022). In addition, Ibnu Khaldun believes that the state should not interfere with the market unless it is necessary for the welfare of society (Ridlwan & Mawardi, 2019).…”
Section: Previous Studymentioning
confidence: 99%
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