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ملخص البحث | Ibn Khaldun was a famous historian, sociologist and philosopher and the founder of sociology. Western economists egnored him though he contributed to several economic areas such as public finance, economic growth, market equilibrium and the theory of value. Ibn Khaldun preceded Adam Smith and David Ricardo in realizing the labor as the main source of value he also introduced the natural wage rate which depends on expenditures rather than prices of necessary means of substance as Marx claimed. Market prices of commodities increase or decrease according to demand, wage rate and hoarding the commodity. He introduced what is called now the Walrasing Law in two places in the Moqademah. To him, prices adjust upward with excess demand and downward with excess supply. Whereas Ibn Khaldun’s growth theory depends on populations and thus the labor force alone whereas modern growth theories added capital to the labor. In public finance he discovered what is called now the Laffer curve 600 years before it was discovered by Laffer. He claimed that sales and import taxes are indicators of the end of the state. Like other classical economists he doesn’t believe in government intervention in the economy. Finally a decrease in government expenditures causes a decrease in government revenues and thus a recession | |
لغة البحث | ENGLISH | |
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ملف مرفق | IBNKHALDUNCONTRIBUTION[1].pdf | |