8-th topic. The ancient economic theories

The great thinker Nasraddin Tusi (1201-1274) has very rich ideas about economic theories, in addition other sciences. His works of “Akhlagi-Nasiri” and “Treatise about public finance” show that, Tusi was as a professional economist too.

About economic science he says: “This field of science is a theory about actual and general development of the joint labor (team work) for the benefit of all. The object of this science is human relation system jointed with common labor and organized the production perfectly. Hence, everybody should try to learn this field of science for being owner of virtue, otherwise, will do mistakes in his behaviors.”

Thus, we clearly see that, the great thinker studies the development of economic system under the framework of ethic issues. 

N.Tusi defines the economic science as “human relation system that perfectly organizes the production”. He writes that, the science or profeccion that targets human perfection should be most honourable.”

He thinks that, when everyone works by his ability and when they earn for their works this is fair. He considers that, violation of low in practice is injustice. At the same time, all works and workers should not be evaluated equally. He recommends that, persons’ innate talent and skills are different and this difference should be taken into account.

Tusi writes that, injustice is the biggest threat for economic relations.

Generally, Tusi considers that, the concept of the most perfect production is the basic generator in society. The idea of rational and perfect economic behavior is different expression of the problem of the perfect humanity.

 

Some materials were used from the book of “The history of economic studies” published under  editing by M.Meybullayev

Aghanemat Aghayev