In addition to being great scholars of theology and Islamic - TopicsExpress



          

In addition to being great scholars of theology and Islamic sciences, both al-Ghazali (11th century) and Ibn Taymiyyah (13th century) were well aware of modern economic theories such as supply and demand. Al-Ghazali wrote in Ihya Ulum al-Din: “If the farmer does not get a buyer for produce, then he sells at a very low price”. Ibn Taymiyyah wrote: “If desire for goods increases while its availability decreases, its price rises. On the other hand, if availability of the good increases and the desire for it decreases, the price comes down.”
Posted on: Mon, 28 Apr 2014 17:20:31 +0000

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