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June 29, 2006
More on Islamocapitalism: Ibn Khaldun & Tax Cuts
"In the days of the caliphate," Stephen Glain reminds us in a Newsweek op-ed titled "Islam in Office", "Islam developed the most sophisticated monetary system the world had yet known." Mr. Glain also refers to the pro-market ideas of Ibn Khaldun, the renown Medieval Muslim scholar, who advocated less taxes and more individual enterprise:
Anticipating supply-side economics, Khaldun argued that cutting taxes raises production and tax revenues, and that state control should be limited to providing water, fire and free grazing land, the utilities of the ancient world. The World Bank has called Ibn Khaldun the first advocate of privatization. His founding influence is a sign of moderation.
It is notewhorty that the first advocate of privatization was a Muslim scholar. Here is yet another indication of the fact that Islam is very open to individualism — but not collectivism.
Posted by Mustafa Akyol at June 29, 2006 4:38 PM
Comments
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"Islam developed the most sophisticated monetary system the world had yet known." ...ye ye...that's why the economy of the "islamic" states is sooooo in a good shape!
If there were no crude around the situation might even been worse.
how is it possible that eveyone takes everything without any criticism?
Like dear "admirim" who stated "Indeed Islam has solutions for every aspect of human life. And economy is one of these aspects"
ye ye...and you live in a matrix...
Posted by: echnaton at June 30, 2006 11:34 AM
Echnaton,
You should learn how to read first. The sentence you quoted starting with "In the days of the caliphate...". And now, it is time to read some history.
Welcome to the real world, Neo !
Posted by: blue at July 21, 2006 5:55 PM
Echnaton-
Before attempting sarcasm, you should first familiarize yourself with basic English grammar.
Posted by: Bert at October 29, 2006 10:29 AM