nep-isf New Economics Papers
on Islamic Finance
Issue of 2018‒07‒16
four papers chosen by
Halimatun Aris

  1. Negara, ekonomi dan pasar: Analisis institusi hisbah dan kontribusinya dalam perspektif al-Mawardi By Nashihah, Faidah
  2. Kebijakan ekonomi khalifah Umar bin Khattab By Kusnadi, Jamaludin
  3. Ibn Khaldun's Islamic economic view By Bahri, Wustol
  4. Pemikiran Ekonomi Al-Maqrizi By Gunarso, Gatot Hadi

  1. By: Nashihah, Faidah
    Abstract: The capitalist and socialist economy throughout the history of economic thought can not factually bring about market justice and even tends to be distorted due to the weakening of economic ethics and the absence of the institutions that oversee the market. This article uses the method of content analysis and critical historical method in revealing the history of Islamic economic thought about the issue. The conclusion of this paper asserts that the state, economy, and market are inseparable in creating economic justice, one of which is al-Mawardi's idea of the institution of hisbah which plays a role in controlling and overseeing economic activity.
    Keywords: country, market, economy, hisbah, Islamic economy
    JEL: B0 B31 D40 P0
    Date: 2018–03–01
  2. By: Kusnadi, Jamaludin
    Abstract: Umar bin Khattab is a close friend of Rasulullah SAW who conducts policies in Islamic economics, especially macroeconomics, and finds wise ways of managing property (wealth of country) and makes people benefit in three ways, first: take it the right way, second: given in accordance with their rights, and thirdly; avoid the bad. This shows that the management of Umar bin Khattab neatly in taking the country's financial management policy, the state will not take the property of people the wrong way.
    Keywords: Hisbah, Diwan, Kharaj, Public Finance, Umar bin Khattab
    JEL: A11
    Date: 2018–06–23
  3. By: Bahri, Wustol
    Abstract: Abstract The economic problem is discussed by Ibn Khaldun in his book Al Muqoddimah part V and the economic motive arises because human desire is unlimited, the goods that will satisfy his needs are very limited. Therefore, to solve economic problems must be viewed from two angles; angle strength (work, arbeid) and from the point of use. Ibn Khaldun also talks about personal business and general business. It is explained in the explanation of the terms 1 (ma'asy and Rizqy) and term 2 (tamawwul and Kasab). In currencies, Ibn Khaldun predicts that both will occur in the world's most important economies: first, being an exchanger and a measure of price, as business value (destiny); second, means of transportation, such as denizen (qaniah); and third, deposit instruments in the bank (akhirah).
    Keywords: Islamic Economy, Private Business, The Public Company, Currency
    JEL: A10
    Date: 2018–06–20
  4. By: Gunarso, Gatot Hadi
    Abstract: This article writes about the thinking of Al-Maqrizi Islamic economic figure. The method used in the concept of money according to Al-Maqrizi is literature study. Al-Maqrizi is in the second phase in the history of Islamic economic thought, a phrase that begins to show signs of slowing innovative intellectual activities in the Islamic world. Al-Maqrizi is an Islamic economic thinker who conducts special studies on money and inflation. The socio-economic phenomenon and the effects of inflation depend on the nature of income and wealth of each group. If income is fixed or rising, but lower than the rate of inflation then the condition declines. Conversely, if their income rises higher than the rate of inflation, then their material welfare increases.
    Keywords: : Islamic Economics, Inflation, Al-Maqrizi
    JEL: B00 B22 B30 B31
    Date: 2018–06–23

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