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Historian of economic thought Joseph Schumpeter argued that there was a “great gap” in economic thinking between the thought of the ancient Greeks such as Aristotle and European economic thinkers in the 18th century such as the Physiocrats or Adam Smith. Explain what this “great gap” implies, and the ways in which scholars of medieval Islamic thought have shown it to be a mischaracterization. Be sure to give at least one substantive example of a medieval Islamic thinker and a corresponding economic idea.
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