Ngoài ra, giống như Adam Smith, Ibn Khaldun nhận thấy rằng năng suất phụ thuộc vào mức độ của thị trường, phân chia lao động và chuyên môn. Với sự hiểu biết sâu sắc lịch sử chính trị và kinh tế của mình, Ibn Khaldun cảnh báo rằng sự tăng trưởng của quyền lực tuyệt đối trong Nhà nước là nguyên nhân gây ra sự suy giảm của sự thịnh vượng kinh tế. | 28 Understanding Islamic Finance improved only through the equitable treatment of people with property and regard for them. other means taken by the ruler such as engaging in commerce and agriculture soon turn out to be harmful to the subjects to be ruinous to revenue and to decrease cultural activities . Also like Adam Smith Ibn Khaldun noticed that productivity depends on the extent of the market division of labour and specialization. With his profound historical political and economic insight Ibn Khaldun warned that the growth of absolute power in the State is the cause of decline of economic prosperity. For according to him absolute power has to be preserved by expanding bureaucracy the army and the police which have to be supported by increased taxation confiscation and worst still by direct interference of the State in economic activity by engaging in commerce and industry. Ibn Taymiyah9 discussed the concepts of Thaman-e-mithl normal market price or wage economic freedom pricing in the market the role of the ombudsman and the functions of the government in the development of a smooth and just socio-economic order. The thirteenth century Memorandum of Nasiruddin Tusi laid down guidance for the Mongol kings on the financial administration of the then Iran. Shah Waliullah discussed basic principles on production and exchange of With regard to the contribution of the Islamic world to trade and economics in the Middle Ages Maurice Lombard in his book The Golden Age of Islam originally published in 1971 in French and translated into English in 1975 writes The Muslim East provided the driving force behind economic and cultural life the West was a Void - an area in which all commercial and intellectual activity had ceased after the decline and fall of Rome and the subsequent barbarian invasions. . . Great ports provided the Muslim World with ships dockyards and seafaring populations. There were three enormous complexes first shipping in the Persian Gulf .
