Ibn Khaldun (1332 M-1382 M)
His full name is Waliuddin Abdurrahman bin Muhammad bin Muhammad bin Abi Bakr Muhammad ibn al-Hasan, who was then known as Ibn Khaldun. He was born in Tunisia on 1 Ramadan 732 AH / May 27, 1332 M. He died in 1382 at the age of 50 years old. He is well known as a historian and father of sociology who memorized the Koran Islam since childhood. As a Muslim politician, he is also known as the father of Islamic Economics, for his thoughts about the logic of economic theory was first put forward realistic before Adam Smith (1723M -1790M) and David Ricardo (1772M -1823M) produce economic theories. Even as a teenager, his writings have spread to any western scientist to become a reference at the time.
The writings and thought …show more content…
With sharp he discussed the formation of prices in the City. In his analysis, he divided the phenomenon of prices on goods in half, the first, basic necessities and second, that the requirement. According to Ibn Khaldun, when a city grows and the population increases much more (a big city), the procurement of basic necessities will get priority.
Ibn Khaldun also explain the mechanism of supply and demand in determining the equilibrium price. In more detail it describes the effect of competition amongst the customers to get the goods on the demand side. After that it explains the effect of increasing production costs due to tax and other charges in the city, on the bid.
Ibn Khaldun also explained the effect of the rising and falling of the price bid. He said, for example, when goods need only a little, then prices will go up. When the distance between nearby towns and safe to travel, it will be a lot of imported goods until the goods are abundant, and prices will go down. Ibn Khaldun had analyzed the empirical theory of supply and demand in the community. Ibn Khaldun explicitly turn it formulates the law of supply and its relation to the price. He said that when a city is growing rapidly, progress and densely populated, the abundant supply of basic foodstuffs. This means increased offer, which resulted in the cheapening of the price of basic goods. Example graph of the theory of Ibn Khaldun's …show more content…
Five people thought that many member inspirational figure in the formation of human civilization more advanced and systematic in economic management in the west and in the east. Islamic leaders thought far ahead of figures intellectuals western economic thinkers actually. This figure is based on actual thought al quran and sunnah al explain that in order to overcome the problems of the economic system.
Majority figure describes a mechanism that prices play a role in the exchange of goods and services in order to ensure social justice in society without any dissatisfaction. The currency in use to assess an article to replace the barter system has many deficiencies in assessing the cost and purpose of securing justice for all segments of society. In addition, the theory of supply and demand apply this is to explain the production of transparent State can be distributed to the community as needed. Non-shoveling stuff requirement is to ensure the prosperity of society by meeting basic human needs.
These figures explain the theory of Islam and solve problems in their community with the Islamic community hopes Al-Falah-performing and fully the objectives of Islam and the other covering the principles of Islamic
His full name is Waliuddin Abdurrahman bin Muhammad bin Muhammad bin Abi Bakr Muhammad ibn al-Hasan, who was then known as Ibn Khaldun. He was born in Tunisia on 1 Ramadan 732 AH / May 27, 1332 M. He died in 1382 at the age of 50 years old. He is well known as a historian and father of sociology who memorized the Koran Islam since childhood. As a Muslim politician, he is also known as the father of Islamic Economics, for his thoughts about the logic of economic theory was first put forward realistic before Adam Smith (1723M -1790M) and David Ricardo (1772M -1823M) produce economic theories. Even as a teenager, his writings have spread to any western scientist to become a reference at the time.
The writings and thought …show more content…
With sharp he discussed the formation of prices in the City. In his analysis, he divided the phenomenon of prices on goods in half, the first, basic necessities and second, that the requirement. According to Ibn Khaldun, when a city grows and the population increases much more (a big city), the procurement of basic necessities will get priority.
Ibn Khaldun also explain the mechanism of supply and demand in determining the equilibrium price. In more detail it describes the effect of competition amongst the customers to get the goods on the demand side. After that it explains the effect of increasing production costs due to tax and other charges in the city, on the bid.
Ibn Khaldun also explained the effect of the rising and falling of the price bid. He said, for example, when goods need only a little, then prices will go up. When the distance between nearby towns and safe to travel, it will be a lot of imported goods until the goods are abundant, and prices will go down. Ibn Khaldun had analyzed the empirical theory of supply and demand in the community. Ibn Khaldun explicitly turn it formulates the law of supply and its relation to the price. He said that when a city is growing rapidly, progress and densely populated, the abundant supply of basic foodstuffs. This means increased offer, which resulted in the cheapening of the price of basic goods. Example graph of the theory of Ibn Khaldun's …show more content…
Five people thought that many member inspirational figure in the formation of human civilization more advanced and systematic in economic management in the west and in the east. Islamic leaders thought far ahead of figures intellectuals western economic thinkers actually. This figure is based on actual thought al quran and sunnah al explain that in order to overcome the problems of the economic system.
Majority figure describes a mechanism that prices play a role in the exchange of goods and services in order to ensure social justice in society without any dissatisfaction. The currency in use to assess an article to replace the barter system has many deficiencies in assessing the cost and purpose of securing justice for all segments of society. In addition, the theory of supply and demand apply this is to explain the production of transparent State can be distributed to the community as needed. Non-shoveling stuff requirement is to ensure the prosperity of society by meeting basic human needs.
These figures explain the theory of Islam and solve problems in their community with the Islamic community hopes Al-Falah-performing and fully the objectives of Islam and the other covering the principles of Islamic