The Value‐based Islamic Economic System and Other Optimal Economic Systems: A Critical Comparative Analysis

1990 ◽  
Vol 17 (11) ◽  
pp. 21-35 ◽  
Author(s):  
Bernard J. Reilly ◽  
Hamid Zangeneh
Keyword(s):  
Comparative Analysis ◽  
Economic System ◽  
Economic Systems ◽  
Islamic Economic

scholarly journals COMPARISON OF ISLAMIC ECONOMY AND CONVENTIONAL ECONOMY TO PEOPLE'S INCOME GROWTH IN REDUCING POVERTY AND UNEMPLOYMENT

2020 ◽  
Vol 1 (2) ◽  
pp. 259-274
Author(s):  
Tarmizi Tarmizi
Keyword(s):  
Economic System ◽  
Economic Systems ◽  
Economic Activities ◽  
Capitalist System ◽  
The People ◽  
Socialist Economic ◽  
Islamic Economic ◽  
Islamic Faith ◽  
The Right ◽  
Socialist Economic System

Islamic economic system is built on the foundation of the Islamic faith, the faith in question is the right because it comes from Allah brought to mankind through the prophet Muhammad. The Islamic faith is a faith that satisfies reason, reassures the soul, and is in accordance with human nature. In an individual context, economic activity is based on the values of worship. The economic system known by society globally is the capitalist and socialist economic system. In the economic context, both systems have been able to increase the prosperity of the people in the country that uses both economic systems. The capitalist system is influenced by the zeal to make the most of its profits with limited resources. This capitalist venture is supported by the values of freedom to make ends meet. This freedom resulted in high competition among others in defense, while the socialist economic system had the goal of mutual prosperity. In conclusion, the Islamic economic system is a solution economic system for various problems that have arisen, while the conventional economic system is an economic system that is widely used by various countries in the world, including Indonesia. A conventional economy is an economic system that gives full freedom to everyone to carry out economic activities.

Uncertainty and Institutional Evolution in Complex Economic Systems: The Post Keynesian Approach

2009 ◽  
pp. 48-59 ◽  
Author(s):  
I. Rozmainsky
Keyword(s):  
Comparative Analysis ◽  
Economic System ◽  
Economic Systems ◽  
Institutional Evolution ◽  
Soviet Russia

The paper is an attempt to develop the post Keynesian approach to comparative analysis of economic systems. The basic differences between economic systems are determined by the differences between institutions created for the sake of decreasing uncertainty. Uncertainty-reducing evolution of institutions can both stabilize and destroy economic system. The example of such destruction is the collapse of planned socialism. The author applies this approach to the analysis of economic system emerged in post-Soviet Russia which is "family-clannish capitalism". He tries to predict its institutional evolution.

scholarly journals Aspek Insentif, Mekanisme Pengambilan Keputusan dan Koordinasi (Analisis Komparasi Sistem-Sistem Ekonomi)

2015 ◽  
Vol 6 (2) ◽  
pp. 65
Author(s):  
Nafis Irkhami
Keyword(s):  
Decision Making ◽  
Comparative Analysis ◽  
Comparative Study ◽  
Economic System ◽  
Systemic Review ◽  
Fully Integrated ◽  
Distribution Of Wealth ◽  
Ethical System ◽  
Islamic Economic ◽  
Economic Motives

This paper is intended as a general comparative study on the economic system of capitalism, socialism and Islamic economics. The comparative analysis is conducted by reviewing aspects of incentives, decision-making mechanism and coordination. Inter-systemic review in this paper shows that Islamic economic system is determined by the parameters of its own ethical system which shows originality and relativity. Unlike other systems, the ethical impulse that is based on the Islamic worldview is fully integrated with Islamic economic motives. Limited freedom assigned to the behavior of consumption and production, as well as the emphasis on the distribution of wealth cannot be separated from the purpose of goodness (world and the hereafter).Tulisan ini dimaksudkan sebagai studi komparasi general atas sistem ekonomikapitalisme, sosialisme (ekonomi komando) dan ekonomi Islam. Analisiskomparasi tersebut dilakukan dengan meninjau aspe-aspek insentif, mekanismepengambilan keputusan dan koordinasi. Tinjauan inter-sistemik dalam tulisanini menunjukkan bahwa sistem ekonomi Islam ditentukan berdasarkan parameter-parameter sistem etisnya sendiri, yang menunjukkan adanya orisinalitas dan relativitasnya. Tidak seperti sistem lain, impuls-impuls etik yang didasarkan pada worldview Islam tersebut sepenuhnya terintegrasi dengan motif-motif ekonomi Islam. Kebebasan terbatas yang ditetapkan untuk perilaku konsumsi dan produksi, serta penekanan pada distribusi kekayaan tidak dapat dipisahkan dari tujuan kemaslahatan (dunia maupun akhirat).

scholarly journals KETAHANAN EKONOMI KELUARGA DALAM EKONOMI ISLAM: SEBAGAI UPAYA MENCARI SOLUSI ALTERNATIF

2021 ◽  
pp. 49
Author(s):  
M. Ikhwan ◽  
Imroatus Solihah
Keyword(s):  
Economic System ◽  
Qualitative Method ◽  
Economic Systems ◽  
Economic Resilience ◽  
Economic Problems ◽  
Normative Approach ◽  
Family Economy ◽  
The Family ◽  
The Government ◽  
Islamic Economic

This paper explains the Islamic economic system which is believed to be not only an alternative economic system but can be a solution to various economic problems including the family economy. To explain this will explain the definition, genealogy and comparison of Islamic economics with conventional economic systems, and the last explained the Islamic economic solution to the economic resilience of the family economy. This paper uses a qualitative method to narrate the concept of Islamic economics as a solution to the family economy with a philosophical and normative approach and refers to secondary research sources such as books, journals and other scientific articles. From the observations that have been made, the economic resilience of the family starts from applying the Islamic economy in household life, then being simple/modest, abandoning usury practices, giving zakat, the spirit of work, avoid asking for solicitation and addressing the government properly.

scholarly journals STUDI KOMPARASI POSISI ETIKA BISNIS ISLAM DALAM BERBAGAI SISTEM EKONOMI

2021 ◽  
Vol 1 (2) ◽  
pp. 30
Author(s):  
Nina Nurkomalasari ◽  
Nurlaelah Zakiah
Keyword(s):  
Economic System ◽  
Economic Activity ◽  
Qualitative Method ◽  
Economic Systems ◽  
Modern Times ◽  
The World ◽  
Socialist Economic ◽  
Islamic Business Ethics ◽  
Islamic Economic ◽  
Control Tool

ABSTRAKEtika bisnis menjadi alat kendali bagi setiap individu dalam aktivitas ekonomi. Sistem ekonomi islam telah muncul jauh sebelum sistem ekonomi kapitalis, sosialis maupun sistem ekonomi pancasila berada. Namun dalam hal ini sebagian besar masyarakat telah banyak menganut sistem ekonomi kapitalis dan sosialis, dimana kurangnya kesejahteraan bersama sehingga keuntungan hanya dirasakan oleh penguasa saja. Penelitian ini bertujuan untuk melakukan studi komparatif terhadap sistem ekonomi islam, sehingga diharapkan dapat terus berkembang bagi kemaslahatan seluruh umat Islam. Metode penelitian yang digunakan yaitu metode deskriptif kualitatif dengan memanfaatkan kajian dan studi literatur dari berbagai sumber. Hasil dan pembahasan menyatakan bahwa etika bisnis islam telah berkembang sejak zaman Nabi dan Rasul, jauh sebelum zaman modern muncul yang telah mengubah masyarakat untuk mengenal sistem ekonomi kapitalis, sosialis maupun sistem ekonomi pancasila. Maka secara filosofis sistem ekonomi islam bersifat universal, kepemilikan harta dalam mutlak milik Allah Swt dan sistem ekonomi islam mengedepankan prinsip maslahat bagi seluruh umat di dunia.ABSTRACTBusiness ethics becomes a control tool for every individual in economic activity. The Islamic economic system has emerged long before the capitalist, socialist and Pancasila economic systems exist. However, in this case, most people have embraced a capitalist and socialist economic system, where there is a lack of shared welfare so that the benefits are only felt by the rulers. This study aims to conduct a comparative study of the Islamic economic system, so that it is expected to continue to develop for the benefit of all Muslims. The research method used is descriptive qualitative method by utilizing studies and literature studies from various sources. The results and discussion state that Islamic business ethics has developed since the time of the Prophet and the Apostle, long before modern times emerged which have changed society to recognize the capitalist, socialist and Pancasila economic system. So philosophically, the Islamic economic system is universal, ownership of property in absolute terms belongs to Allah and the Islamic economic system puts forward the principle of benefit for all people in the world.

scholarly journals REDEFINIG ECONOMIC SYSTEMS AS AN ISLAMIC ECONOMIC SYSTEM

2016 ◽  
Vol 12 (1) ◽  
Author(s):  
Muhammad Waqas ◽  
Keyword(s):  
Economic System ◽  
Private Property ◽  
Practical Implication ◽  
Economic Systems ◽  
Social Variables ◽  
Economic Problems ◽  
The Social ◽  
Different Types ◽  
Islamic Economic ◽  
Loan System

Objective: Need of a new economic model has been realized at the international level, as numerous and significant flaws has appeared in both two systems capitalism and socialism, which are becoming a great cause for economic crises in almost every economy of the word, in this regard this study has been carried out on the redefining Islamic economics as a new model, that how it can take out those problems and flaws which has appeared in both structure. Methodology: Islamic economic system doesn’t emphasize only on the economic variables it also considers the social variables which has been neglected by both previously and currently practicing systems (socialism and capitalism).current study is a comparative analysis of all said systems. Findings: It has been also observed that in spite of having great strength to winkle out all the economic problems, without interest how we are able to get the profit and what different types of new loan system that is RIBA free and helpful for getting the good profit. Practical Implication: In Islamic economic system the private property is being debatable. Government or state should be involved in only condition if market is failed to provide public good and education.

scholarly journals SISTEM PEREKONOMIAN NEGARA-NEGARA DI DUNIA

2016 ◽  
Vol 16 (02) ◽  
Author(s):  
Dicky Sumarsono
Keyword(s):  
Soviet Union ◽  
Economic System ◽  
Islamic Law ◽  
Economic Systems ◽  
Literature Study ◽  
The Soviet Union ◽  
Socialist Economic ◽  
The Government ◽  
Islamic Economic ◽  
Socialist Economic System

This study aims to look at the existing economic system in this world, both socialist economic system, capitalist economic system, and Islamic economic system. The research method used is literature study method. The results of the study indicate that the socialist economic system, the economic system in which the government has a very big role in managing the wheels of the economy from upstream to downstream in the economic chain in society, and this economic system has not existed or not developed since the collapse of the soviet union. While the capitalist economic system, the economic system gives people the freedom to own wealth, and this system also dominates the economic systems used by countries in this world. Then the Islamic economic system until recently is a concept that will be an alternative to the economic system that prosper with a lot of learning also from the two existing economic system, namely the capitalist economic system and socialist economic system, of course take things positive of both as long as it is not against the Islamic Shari'ah that comes from the sources of Islamic law especially the Qur'an and al-Hadis.

scholarly journals The Islamization of Economic Systems: A Methodological Approach

2020 ◽  
Vol 4 (1) ◽  
pp. 83
Author(s):  
Denizar Abdurrahman Mi'raj ◽  
Nissar Ahmad Yatoo
Keyword(s):  
Economic System ◽  
Research Methods ◽  
Historical Perspective ◽  
Methodological Approach ◽  
Historical Analysis ◽  
Economic Systems ◽  
Library Research ◽  
Three Stages ◽  
Islamic Economic

This paper is an attempt to discuss Islamization of economics in historical perspective. Focus of the discussion is not only the Islamization of economics but also realization of an Islamic economic system. This research is based on library research methods and supported by historical analysis. Conclusive information was collected from various studies and analysed for the conception of implementing methodological steps to realize the Islamization of the economic system. Studies were reviewed and investigated in three stages: general, exploratory, and focused learning. The findings of this study reveal that Islamization of economics cannot stand alone without the Islamization of every Muslim and the Islamization of society. Like Islamization of a society is realized with organization of Muslim families, Islamization of economics can be realized by increasing the number of economists who have knowledge of sharia.

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