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Essay On Ibn Khaldun Government

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Governments play an important role in growth and in theGovernments play an important role in growth and in the country's economy in general through their purchases of goods and services and through their fiscal policy of taxation and expenditures. Governments may also provide an environment of incentives for work and prosperity or, inversely, a system of oppression which is ultimately self-defeating. What is interesting to see is that, regardless of the time period, customs, laws and differences of the government's, Ibn Khaldun and Adam Smith both had very similar ideas about how taxations should be, possible functioning monetary policies and the role a government should have in a society in order to expand the wealth and rise of nations.
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According to him, money is not a real form of wealth but a vehicle through which it can be acquired. He was the first to present the major functions of money as a measure of value, a store of value and as a "numeraire." "The two mineral 'stones,' gold and silver as the (measure of) value for all capital accumulations . . . [are] considered treasure and property. Even if under certain circumstances, other things are acquired, it only for the purpose of ultimately obtaining [them]. All other things are subject to market fluctuations from which (gold and silver) are exempt. They are the basis of profit, property and treasure." The real form of wealth is not money, however; wealth is rather created or otherwise transformed through labor in the form of capital accumulation in real terms. It was, therefore, Ibn Khaldun who first distinguished between money and real wealth.
Just like Adam Smith and other classical economists, Ibn Khaldun believed in the free economy. Government should not interfere neither in production nor in markets because it hurts the private merchants and farmers. Ibn Khaldun was not only against state involvement in commercial and agricultural activities, he was also against government involvement in fixing the prices of goods and

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