Early Islamic economic thinkers, such as Ibn Khaldun, Al-Farabi, Al-Ghazali, and Al-Mawardi, made significant contributions to economic thought in the Middle Ages.
Ibn Khaldun, a 14th-century philosopher, was a pioneer in the field of political economy. He discussed what he called asabiyya (social cohesion), which he cited as the cause of some civilizations becoming great and others not.
Al-Farabi (872–950) has been recognized for his influence on economic thought. His ideas on the virtues for a city and the role of the state serve as a bridge between Plato and modern economists.
Al-Ghazali (1058–1111) discussed economic issues, including poverty, wealth, work, trade, and market regulation in his book Ihya 'Ulum al-Din.
Al-Mawardi (972–1058) wrote about governance and public duties, which included economic matters.
The economic concepts that these thinkers discussed are still relevant today and have been studied in the field of Islamic economics.
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