Economy
During the Rashidun Caliphate there was an economical boom in the lives of the ordinary people due to the revolutionary economic policies developed by Caliph Umar and his successor Caliph Uthman. At first it was Umar who introduced these reforms on strong bases, his successor Uthman who himself was an intelligent businessman, had further reformed it. During Uthman's reign the people of the empire enjoyed a prosperous life.
Read more about this topic: Rashidun Caliphate
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)