The contributions of Ibn Khaldun to the development of economic thought have gone largely unnoticed in the academic realm of Western nations, this despite recent research focusing on Khaldun's magnum opus, Al-Muqaddimah. In this paper, we examine the similarities between Al-Muqaddimah and Adam Smith's "Wealth of Nations", particularly as they discuss the benefits of a system of specialization and trade and the role of markets and price systems.
Ibn Khaldun and Adam Smith: Contributions to Theory of Division of Labor and Modern Economic Thought
See full gallery
Rate this article:
Figure 1. The Tabula Rogeriana, drawn by al-Idrisi for Roger II of Sicily in 1154, one of the most advanced ancient world maps. Modern consolidation, created from the 70 double-page spreads of the original atlas. (Source)
- next ›