Who is aptly called the “Father of Political Economy”?

Who is aptly called the “Father of Political Economy”?

Option:

(a) Al-Mawardi

(b) Nizam-ul-Mulk Tusi

(c) Ibn-Khaldun

(d) Al-Ghazali

Correct Answer for PPSC: ✅ Ibn-Khaldun

Explanation:

Ibn Khaldun is rightly called the Father of Political Economy because he systematically analyzed economic factors such as labor, production, taxation, trade, and state expenditure centuries before Adam Smith. In Muqaddimah, he explained how excessive taxation destroys economic activity and how labor is the source of value. Modern economists recognize his contribution as foundational. PPSC often repeats this concept in different option arrangements.

10 Related PPSC Facts:

Labor theory of value Taxation affects productivity Economic growth tied to justice State spending impacts economy Market forces explained Inflation discussed Economic cycles identified Pre-modern economist Influenced modern economics Recognized worldwide