scholarly journals ISLAMIC ECONOMICS METHODOLOGY PATTERNS OF REASONING AND THE STRUCTURE OF THEORIES

2020 ◽  
Vol 3 (2) ◽  
pp. 10-24
Author(s):  
Abul Bashar Bhuiyan ◽  
Abdul Ghafar Ismail ◽  
Abd Halim Mohd Noor ◽  
Mohammad Solaiman ◽  
Md. Jafor Ali
Keyword(s):  
Economic Thought ◽  
Economic Issues ◽  
Goods And Services ◽  
The Arts ◽  
Maximum Benefit ◽  
Production And Distribution ◽  
Islamic Economic ◽  
Future Direction ◽  
Islamic Civilization ◽  
Money Production

In fact, the Islamic economy is a framework that has been extracted from the axiomatic scripture revealed by Allah Almighty S.W.T (The Holy Quran) and religious practices established by Muhammad SAW (Sunnah) to study contemporary economic phenomenon as per Islamic commercial jurisprudence confronting issues like employment, treatment of property, money, production and distribution, taxes, loans, interest (Riba) stability of prices, equitable distribution, growth rate, productivity, consumption of goods and services etc. that make sure maximum benefit (Falah) in a society or at large to the humanity (Ummah). The Islamic economy is not really a new discourse on whether its roots have evolved since the early days of Islamic civilization. Discussions on economic issues from an Islamic perspective started early and have flourished in the Islamic golden age since. However, economic issues are mainly solved by different branches and schools of economics. This raises a wide variety of methodological issues and several problems have been central to methodological reflection concerning economics. However, not much research attempts have been done to survey the origin of Islamic economic thought and portray its evolution towards becoming a discipline in contemporary times with its own body of knowledge and methodology. Therefore, this study is likely to fill this gap and chart the future direction of the discipline will also be highlighted with some evaluations of the current state of the arts.

REVIVING ECONOMIC THOUGHT BY MANNAN PERPECTIVE

2020 ◽  
Vol 15 (2) ◽  
pp. 353-378
Author(s):  
Muhammad Majdy Amiruddin ◽  
Muhammad Ismail ◽  
Hasanuddin Hasim
Keyword(s):  
Adam Smith ◽  
Main Idea ◽  
Scientific Work ◽  
Economic Thought ◽  
Small Contribution ◽  
Literature Study ◽  
Goods And Services ◽  
Study Techniques ◽  
Islamic Economic ◽  
Modern Era

The reviving of modern economic theory is usually stated starting from the publication of Adam Smith's The Wealth of Natoins, in 1776, although other thinkers who first also gave no small contribution. The main idea put forward by Adam Smith is that competition between various suppliers of goods and buyers will produce the best possibilities in the distribution of goods and services because it will encourage everyoe to do the specialization and increase in capital so that it will produce more value with a permanent workforce. From the Islamic perspective, there are several names that commonly known such, Baqir, Umar Chapra, and Mannan. The purpose of this research is to explore the revival economic though by Abdul Mannan. This research adapts content analysis method, which is a researcher conducts a discussion of the contents of written or edition information in the mass media. The data analysis techniques of this scientific work use literature study techniques, comparative, induction, and deduction. The study began by collecting literature data from Muhammad Abdul Mannan's Concept of Thinking about the Development of Modern Era Islamic economics and Modern Era Islamic Economic concepts in general, (researchers only participated in the discussion). Then proceed with the interpretation that researchers try to understand Muhammad Abdul Mannan's thoughts about the Development of Islamic Economics in the Modern Era. The result of this reseacrh indicates that the revival of Islamic thought by determining basic economic functions that simply cover three functions, namely consumption, production and distribution. Those basics are rooted by Five basic principles rooted in Shariah for basic economic functions in the form of consumption functions are the principles of righteousness, cleanliness, moderation, benefit and morality

Book Reviews

2015 ◽  
Vol 53 (3) ◽  
pp. 675-677
Keyword(s):  
Economic Thought ◽  
Islamic Tradition ◽  
Medieval Europe ◽  
Production And Distribution ◽  
State Finance ◽  
History Of ◽  
King Abdulaziz University ◽  
Islamic Economic ◽  
Economic Thinking ◽  
Muslim Scholars

Volker Nienhaus of INCEIF reviews “History of Islamic Economic Thought: Contributions of Muslim Scholars to Economic Thought and Analysis”, by Abdul Azim Islahi. The Econlit abstract of this book begins: “Explores the contributions of Muslim scholars to economic thought throughout history and the ways in which Muslim ideas reached the European West. Discusses the phases of the development of Islamic economic thought; the Islamic tradition in economic thought (I)—theories of value, market, and pricing; the Islamic tradition in economic thought (II)—production and distribution; the Islamic tradition in economic thought (III)—money and interest; the Islamic tradition in economic thought (IV) —state, finance, and development; the net addition and impact on economic thinking of medieval Europe; and the links between Muslim thought and mainstream economics.” Islahi is Professor in the Islamic Economics Institute at King Abdulaziz University.

scholarly journals REFORMULASI BANGUN SISTEM EKONOMI ISLAM

2016 ◽  
Vol 8 (1) ◽  
Author(s):  
Elly Masykuroh
Keyword(s):  
Economic System ◽  
Economic Problem ◽  
Economic Thought ◽  
Economic Issues ◽  
The World ◽  
History Of ◽  
Islamic Economic ◽  
The Many ◽  
Two Alternatives

The idea of this paper came from the many phenomenas of economic problem occuring in various part of the world that become increasingly serious. Both economis  school of capitalist and socialist was not able to provide solution for the increasingly complex economic issues. This condition raises expectation for an alternative economic system that is able to resolve economic problem. Current discourses about Islamic economic system sound relevance and begin to be studied to resolve the economic problem. Through the study and reconstruction of the history of Islamic economy, it shows that system of Islamic economy does exist legally and de facto. Now, our job is to formulate the form and concept of Islamic economy that can be accepted as an alternative economic system in the world. The formulation of the concept and theory of Islamic economy can take two alternatives: firstly, through revision of the old theory of Islamic economy in accordance with the principle and characteristic of Islamic economy, secondly, the recontruction of history through the Islamic economic thought, so that it can gave birth new Islamic economic system.

scholarly journals Article Review of The Critical and Empirical Research in Islamic Economics

2020 ◽  
Vol 10 (1) ◽  
pp. 39-44
Author(s):  
Brahim Achour ◽  
Ibrahim Foughali ◽  
Liya Ur Rahman Liyakath Alikhan ◽  
Nur Jamaludin
Keyword(s):  
Economic System ◽  
Empirical Research ◽  
Financial Crises ◽  
Early Stage ◽  
Allocation Of Resources ◽  
Economic Issues ◽  
Goods And Services ◽  
Islamic Economic ◽  
Economic Inequalities

Abstract This article depicts the nature scope and methodology of reconstruction of Islamic economics as well as it speaks about possibilities on theoretical and empirical research in this field. The article also intends to revel needy of reconstruction of Islamic economics, and its role in early stage and contemporary period and how it would be in future. Islamic economics through the shade of quran and sunnah clearly mandate about allocation of resources, goods and services as well distribution of output, input and wealth in an economy. It is also giving the solution for the problems such as financial crises, poverty, inflation, economic inequalities and unemployment. In addition, methodologically, description of the ground realities and prescription of solutions for economic issues are concern of Islamic economics, whereas, field of fiqh plays massive role in developing of Islamic economics. Theoretically, this article discusses about Islamic economics theory and its advantages, this includes Islamic economic system, Shari’ah based transaction matrix, institutional matters, etc. on the empirical side, there are some points affiliated with data and empirical works are discussed.

scholarly journals Syeikh Daud Al-Fatani’s Economic Thought Regarding The Concept of Gharar in The Book of Fiqh Jawi (Sullam Al-Mubtadi) : Focusing on Akad Mua’wadah

2019 ◽  
Vol 7 (1) ◽  
pp. 25-31
Author(s):  
Mohd Faisal Mohamed ◽  
MUALIMIN MOCHAMMAD SAHID
Keyword(s):  
Content Analysis ◽  
Early Period ◽  
Economic Thought ◽  
Analysis Method ◽  
Malay Archipelago ◽  
The People ◽  
Content Analysis Method ◽  
Islamic Economic ◽  
Islamic Civilization

Economic thought is defined as research, theory and economic troubleshooting methods for ideas and efforts from Islamic scholars based on the benefits and syara’. The flourish of the Islamic economic thought discussion began since the early period of Prophet Muhammad SAW because one of the aspects in the al-Quran and al-Sunnah is about economy. With the expansion of Islamic civilization, the discussion regarding economy was flourish as well, especially with the emergence of the fiqh scholars and the sects of fiqh. Fiqh scholars were one of the people who played vital roles in expressing ideas based on naqli and aqli propositions, in addition of arranging discussions in regard to economics. Conservative scholars in the Malay Archipelago such as Syeikh Daud al-Fatani had also played the same role in the Malay World. Thus, this study aims at analyzing the economic thought regarding the concept of gharar in one of his work (the text of Sullam al-Mubtadi) using content analysis method. The focus of the research is on the Mua’wadah contract.

scholarly journals The Spiritual Values of Islamic Economics in Tasawuf Modern: Scrutinizing the Work of Haji Abdul Malik Karim Amrullah (Hamka)

2021 ◽  
Vol 6 (1) ◽  
Author(s):  
Rahmad Hakim ◽  
Ahmad Fanani
Keyword(s):  
Data Analysis ◽  
Secondary Data ◽  
Economic Thought ◽  
Exploratory Research ◽  
Spiritual Values ◽  
Economic Ethics ◽  
Secondary Sources ◽  
Islamic Economic ◽  
Islamic Civilization

Islamic economics has existed since the start of Islamic civilization. However, Islamic economic thoughts established by Indonesian scholars are limited. This exploratory research was carried out to determine the spiritual values of Islamic economics on Hamka's works entitled Tasawuf Modern. Primary and secondary data were collected from Hamka's works entitled Tasawuf Modern and from several papers or books that are relevant to the focus of the research. The data collected were analyzed by combining topics relevant to Islamic economics in modern Sufism and other secondary sources. Content analysis was used for data analysis. The results of this study revealed that, according to Hamka, the richest people are those that need the least. The true wealth lies in the contentment of the soul (qana'ah). Good wealth represents virtue and prohibiton for extravagancy and excessive consumerism. Further, humans need to be in between to carry out good deeds. The results of this study contribute to enriching the discourse of Islamic economic thought, especially in Islamic economic ethics and the role of ethics in business.

The Principles of Zakat and Tax Upon the Time of Rasulullah SAW.

2017 ◽  
Vol 1 (1) ◽  
pp. 90
Author(s):  
Dian Septiandani ◽  
Abd. Shomad
Keyword(s):  
Literature Review ◽  
Economic Thought ◽  
The State ◽  
The Other ◽  
Primary Data ◽  
Other Hand ◽  
Islamic Economic ◽  
General Expense

Zakat is one of principal worship requiring every individual (<em>mukallaf</em>) with considerable property to spend some of the wealth for zakat under several conditions applied within. On the other hand, tax is an obligation assigned to taxpayers and should be deposited into the state based on policies applied, with no direct return as reward, for financing the national general expense. In their development, both zakat and tax had quite attention from Islamic economic thought. Nevertheless, we, at first, wanted to identify the principles of zakat and tax at the time of Rasulullah SAW. Therefore, this study referred to normative research. The primary data was collected through library/document research and the secondary one was collected through literature review by inventorying and collecting textbooks and other documents related to the studied issue.

scholarly journals Sistem Ekonomi (Islam) dan Pelarangan Riba dalam Perspektif Historis

2018 ◽  
Vol 4 (01) ◽  
pp. 1
Author(s):  
Risanda Alirastra Budiantoro ◽  
Riesanda Najmi Sasmita ◽  
Tika Widiastuti
Keyword(s):  
Economic System ◽  
Economic Activity ◽  
Historical Perspective ◽  
Public Life ◽  
Economic Activities ◽  
Economic Problems ◽  
Islamic Thought ◽  
Islamic Economic ◽  
Islamic Civilization

Allah has given the guidance in the form of Islam for Muslim to take and lead all the aspects of life including the economic activity. The Islamic economic system is believed to be the answer of the economic problems that exist at this time. The goal is to achieve falah in kaffah by not doing some economic activities that are in violation as prescribed by Islam. For example is riba. Discourse on riba can be said "classical" both in the development of Islamic thought and in Islamic civilization because riba often occurs in all aspects of public life, especially economic transactions (in Islam called muamalah). Riba is an additional retrieval, either in a sale and purchase transaction or lending in a false or contrary to the principle of muamalah in Islam. Prohibition of riba is obtained from various sources by the Qur'an and Hadith Rasulullah SAW, so the scholars firmly and clearly defined the prohibition of riba because there are exploitative elements that can harm the others. So, this study is aimed to identif yIslamic economic system and the prohibition of riba in historical perspective. From the results of this study is expected to be a good reference for the reader to understand the Islamic economic system and riba in the future.Saran sitasi: Budiantoro, R., Sasmita, R., & Widiastuti, T. (2018). Sistem Ekonomi (Islam) dan Pelarangan Riba dalam Perspektif Historis. Jurnal Ilmiah Ekonomi Islam, 4(01), 1-13. doi: http://dx.doi.org/10.29040/jiei.v4i1.138

scholarly journals INTEGRATION AND DIVERSIFICATION AS INSTRUMENTS OF MODERNIZATION OF INDUSTRIAL COMPANIES

2014 ◽  
pp. 40-44
Author(s):  
N. V. Yakubanis
Keyword(s):  
Small Business ◽  
External Environment ◽  
Value Added ◽  
Goods And Services ◽  
Industrial Companies ◽  
Technological Chain ◽  
Effective Form ◽  
Production And Distribution ◽  
Material Goods ◽  
Flow Of Information

The strategy of transition of the industry to the innovation way of development should include the restructuring of the Russian industrial companies on the basis of creation of the integrated and diversified economic structures on the technological chain of value added. Analysis of changes in the external environment of enterprises in modern conditions confirms the findings of the institutional theory that the development of global technological circuits and networks is the most effective form of management. To the number of the organizational-economic prerequisites for the formation of integrated technological circuits include the globalization of the economy, information production and distribution of material goods and services, the individualization of marketing, related to the saturation of the markets and the change of their structure, the development of logistics management methods and the flow of information and subcontracting (subcontracting) relations of big and small business.

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