IBN KHALDUN: ECONOMIC THOUGHTS IN THE MUQADDIMAH

This paper investigates contributions to the economic thought of famous medieval Arabian philosopher Ibn Khaldun as given in his best-known piece of work The Muqaddimah. The analysed topics cover: labour and labour division and profits, production, ownership, social stratification, governance and rulers’ authority, the role of state and taxation, supply, demand, price and money, commerce and merchants and population. Even though Ibn Khaldun does not reveal systematic economic thought or developed general framework for economic analysis his important contribution to the history of economic thought presents indispensable source in the history of economic thought. Particular problems addressed within economics over past centuries as well as throughout 20th century were first noted and discussed by Ibn Khaldun.