85:"No individual can, because of the shortness of his life span, burden himself with all industries. If he does, he may not be able to master the skills of all of them from the first to the last. Industries are all interdependent. Construction needs the carpenter and the carpenter needs the ironsmith and the ironsmith needs the miner, and all these industries need premises. People are, therefore, necessitated by force of circumstances to be clustered in cities to help each other in fulfilling their mutual needs"
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and the uncertainty associated with them. According to Louis Baeck, professor of
International Economics and Development at the Catholic University of Leuven (Belgium), al-Dimashqi "formulated what modern economists would call price theory". In this theory, al-Dimashqi "makes a distinction between
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In contrast to many other Muslim writers, Al-Dimashqi approved of wealth for its own sake. His work praises trade as an economic activity and demonstrates a thorough understanding of the roles of
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In the Guide to the Merits of
Commerce, he expresses disapproval of the state becoming directly involved in the economy. Al-Dimashqi also emphasizes the necessity of
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normal periods in which market prices are based on cost of production, as opposed to periods of scarcity or oversupply, in which speculators' drive manifest itself".
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Almost nothing is known about al-Dimashqi's life. He was among the Muslim writers who were influenced by Greek sources, particularly by the neo-Pythagorean
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Hosseini, Hamid (2003). "Understanding the Market
Mechanism Before Adam Smith: Economic Thought in Medieval Islam". In Ghazanfar, S.M. (ed.).
50:(A Guide to the Merits of Commerce and to Recognition of Both Fine and Defective Merchandise and the Swindles of Those Who Deal Dishonestly).
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Kitab al-Isharah ila
Mahasin at-Tijarah wa Marifat Jayyid al-Aʼrad wa Kadiiha wa Ghush-ush al-Mudallisin fiha
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Medieval
Islamic Economic Thought: Filling the Great Gap in European Economics
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EH.net: Encyclopedia of
Economic and Business History
204:"Islamic Economics: What It Is and How It Developed"
18:Abu al-Fadl Ja'far ibn 'Ali al-Dimashqi
166:The Mediterranean tradition in economic thought
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46:. He is best known for being the author of
250:Economists of the medieval Islamic world
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28:Abū al-Faḍl Jaʻfar ibn ʻAlī al-Dimashqī
38:; fl. 12th-century) was a prosperous
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270:12th-century Arabic-language writers
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101:Islamic economics in the world
96:Islamic economic jurisprudence
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36:أبو الفضل جعفر بن علي الدمشقي
206:. In Whaples, Robert (ed.).
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133:. Islamic Studies Series.
265:12th-century Arab people
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240:12th-century scholars
162:Baeck, Louis (1995).
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255:People from Damascus
79:economic development
75:division of labour
55:Bryson of Heraclea
260:Syrian economists
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202:(2010).
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220:2011
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