Abstract
This article examines Ibnu Khaldun’s economic thought in his literature entitled Muqaddimah. Discussing this idea is crucial due to his great contribution to the future development of Islamic economy. In addition, Ibn u Khaldun’s thought has contributed further to an economic science until becoming a prominent theory in 18th and 19th century far before many experts such as Adam Smith, David Ricardo, Leon Walras, Karl Marx, and the others established their theories. Ibnu Khaldun’s thought is considered fundamental, not only due to the fact that he precedes any Western economists but he is also an expert of extensive sciences besides Economics so he possess an outstanding ability to to write his Economics in a complete perspective. Among his contributions to both macro and micro Economics, Ibnu Khaldun occassionally proposed his Economics in 14th century when Europe was still in pre- modern era. This study concludes that, historically, Ibnu Khaldun’s Economics have existed far before modern Western scholars defined their ideas. It is not exaggerating therefore to call Ibnu Khaldun as Father of Economics in the case of his ideas of taxes, international trades, political and civilization developments are all crucial to be taken into account in current context for prosperity in society and state.
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