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Ibn Khaldun's Islamic economic view

Author

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  • Bahri, Wustol

Abstract

The economic problem is discussed by Ibn Khaldun in his book Al Muqoddimah part V and the economic motive arises because human desire is unlimited, the goods that will satisfy his needs are very limited. Therefore, to solve economic problems must be viewed from two angles; angle strength (work, arbeid) and from the point of use. Ibn Khaldun also talks about personal business and general business. It is explained in the explanation of the terms 1 (ma'asy and Rizqy) and term 2 (tamawwul and Kasab). In currencies, Ibn Khaldun predicts that both will occur in the world's most important economies: first, being an exchanger and a measure of price, as business value (destiny); second, means of transportation, such as denizen (qaniah); and third, deposit instruments in the bank (akhirah).

Suggested Citation

  • Bahri, Wustol, 2018. "Ibn Khaldun's Islamic economic view," MPRA Paper 87568, University Library of Munich, Germany, revised 23 Jun 2018.
    • Handle: RePEc:pra:mprapa:87568
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    More about this item

    Keywords

    Islamic Economy; Private Business; The Public Company; Currency;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General

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