3. • Adam Smith FRSA . Born 16 June 1723- Died 17 July 1790 (aged 67)
•
Adam Smith was a Scottish political economist and philosopher. his father having
died some six months previously. He has become famous by his influential book ).
• An Inquiry into the Nature and Causes of the Wealth of Nations 1776, generally
referred to by its shortened title The Wealth of Nations, and The Theory of Moral
Sentiments 1759.
5. Who is the Father of Economic?
• Adam Smith (1723-1790), the pioneer in political
economy with his well known book… which
published in 1776, Ideas used in that book
indicate how should rich nations give to poor
nations, his contribution was also in economic
and especially in division of labor,
The work, and contribution of Adam Smith has
recognized all over the world especially by west,
and cited as the “father of modern economics”.
6. • Ibn Khaldun worked on that area and other
areas as theory of Production, theories of
value, money, and prices hundred years
before Adam Smith and other economic
scientist.
• But the fact is that Ibn Khaldun was not
highlighted by any way from the west and his
contribution during this era should be
considered as a miracle , and he didn’t
interfere Islam in his theories as being a
Muslim scientist.
7. • cont…
• The chief concern of his monumental work was to
identify psychological, economic, environmental,
and social fact that contribute to the advancement
of human civilization.
• The Idea is that Ibn Khaldun has made and
incredible contribution in the development of
economics and he focused on different area as the
role of government, taxation, value, money, public
finance, and even population in an era that its only
goal was to achieve basic needs for living as food,
drink, shelter.
8. • Comparison Between Both Scientists
• Both scientist made contribution to the
development in economics.
• But the West totally forgot the role and
contribution of Ibn Khaldun as an Arab/Islamic
scientist, and it is not the fault of West in forgetting
the history of the contribution of Ibn Khaldun , but
it is also the fault of East that may be could not
believe that they could have contributed in the
development of economics and creating theories.
9. Conclusion
• It has proved that Ibn Khaldun introduced many
ideas of economics, and discovered the importance
of division of labor before Adam Smith, It is hard to
say that Ibn Khaldun is only the father of
economics, a more advanced name to him and to
his early contribution and his wide thinking about
different things in social science he could be the
God Father of Economics, or Inspirational Father of
Economics.