IPA Review: Islam’s free market heritage

The Institute of Public Affairs (IPA), a Melbourne-based conservative/libertarian think tank, have published an interesting article [pdf] on Islam and free markets in their latest issue of Review. There are some questionable parts, but it’s worth a read, particularly the section on Ibn Khaldun’s contribution to economics: giving the world an early version of David Hume’s partition of employment or Adam Smith’s division of labour; and, it seems, an early version of the Laffer Curve, which formed the basis for the supply-side economics and associated tax cuts carried out during the Reagan administration.

We often hear about the contribution of early Muslim scientists, such as al-Biruni or al-Zahrawi, but it’s not often we hear about the contribution of early Muslim economists.

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#1 Liberal Think Tanks Selling Out to Muslims? on 07.11.07 at 10:51 am

[...] in March, we published a link to a really good article from the Institute of Public Affairs (IPA)’s Review magazine on [...]

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