Ibn Khaldun: The Forgotten Architect of Economics

Key Takeaway

400 years before Adam Smith, a North African judge namedIbn Khaldunhad already described division of labor, the labor theory of value, supply and demand, and the tax curve. His bookThe Muqaddimahis essentially a guide to why societies rise and fall--and it invented economics along the way.

Watch the Video

Our latest YouTube video breaks down Ibn Khaldun's ideas and asks a modern question: are today's economies still producing, or just extracting?

Watch now:Ibn Khaldun: The Forgotten Architect of Economics

Why This Matters

• Labor creates value:The worth of a thing is the human work embedded in it.
• Asabiyyah (group cohesion):The hidden force that builds states--and the success that often dissolves it.
• Tax curve:Early dynasties collect more with light taxes; late dynasties collect less with crushing ones. Sound familiar?

Bottom Line

Ibn Khaldun's economics was never about money. It was about whether a society still makes things. Watch the full video above and subscribe for more hidden histories of economics.