Who is regarded as the Father of Political Economy_______________________?
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Answer: D. Ibn-e-Khaldun
Explanation
Ibn-e-Khaldun's pioneering economic theories in the Muqaddimah lead many to regard him as an early precursor to modern political economy. He analyzed supply, demand, taxation, and labor value centuries before Western economists. His insights into market dynamics and government revenue remain studied in economic history courses. Ibn-e-Khaldun was a fourteenth-century Arab sociologist, historian, and statesman. He explained how division of labor increases productivity and generates wealth within societies. His writings demonstrated how excessive taxation ultimately destroys incentives for commercial enterprise.
Economic theory helps governments design sustainable tax policies and foster healthy commercial markets. Recognizing non-Western contributions to economics broadens the scope of academic history curricula. Modern policy analysts still reference his theories on state expenditure and economic cycles. Socrates was an ancient Greek philosopher who focused on ethics and dialectic reasoning methods. Imam Al-Ghazali concentrated on spiritual ethics, theology, and the critique of rationalist philosophy. Aristotle wrote on politics and ethics, but Ibn-e-Khaldun specifically pioneered political economy concepts.
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