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All Journal Al-Kharaj: Journal of Islamic Economic and Business
Pephitasya Juliana
Universitas Islam Negeri Alauddin Makassar
Economics, Econometrics & Finance

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Analysis of the Role of Input Markets and Output Markets in Increasing Productivity, Competitiveness, and Economic Welfare: Perspectives of Conventional Economics and Islamic Economics. Pephitasya Juliana; Siradjuddin; Abdul Wahab
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 3 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i3.11358

Abstract

The input market and the output market are two fundamental elements in the economic system that play an important role in determining the level of productivity, competitiveness, and economic welfare. The input market provides various factors of production, such as labor, capital, land, and entrepreneurship needed in the production process, while the output market is a means of distributing goods and services to consumers. In the conventional economy, market efficiency is the main factor in optimizing the allocation of resources to achieve economic growth and community welfare. Meanwhile, Islamic economics not only emphasizes efficiency, but also prioritizes the principles of justice, balance, benefit, and the achievement of falah as the ultimate goal of economic activity. This research aims to analyze the role of input markets and output markets in increasing productivity, competitiveness, and economic welfare through the perspective of conventional economics and Islamic economics. The method used is library research with a descriptive-comparative approach through the analysis of various literatures, scientific journals, books, and relevant research results. The results of the study show that the input market and the output market have a significant contribution in encouraging productivity through optimizing the use of production factors and increasing the efficiency of production distribution. In the perspective of conventional economics, productivity and competitiveness are influenced by price mechanisms, market competition, and resource allocation efficiency. As for the perspective of Islamic economics, productivity and competitiveness are not only measured in terms of economic profits, but also by the extent to which market activities are able to create distribution justice, avoid exploitative practices, and provide benefits to society at large. Therefore, the integration of conventional economic efficiency values with sharia principles can be an alternative in realizing a productive, competitive, and welfare-oriented market system.
Analysis of the Global Environmental Crisis in the Perspective of Maqasid Sharia: Efforts to Realize Sustainable Development Pephitasya Juliana; Andi Ahmad Dhiyauddin; Radina Fauzi; Murtiadi Awaluddin; Sudirman
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 3 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i3.11359

Abstract

The global environmental crisis is a serious threat to the sustainability of human life, economic stability, and the balance of the world's ecosystems. Rising global temperatures, air pollution, water pollution, and biodiversity loss show that environmental issues require a multidisciplinary approach that is not only technical, but also ethical and normative. In an Islamic perspective, maqasid sharia provides a value framework that aims to realize benefits and prevent damage. This research aims to analyze environmental issues through the perspective of maqasid sharia by emphasizing the five main goals of sharia: protecting religion, soul, intellect, descent, and property. The method used is a literature study with a descriptive-analytical approach from classical sources and cutting-edge references. The results of the study show that environmental protection is an integral part of the sharia goals and is relevant to be applied in today's sustainable development policies..
Karl Marx's Socialist Economic Perspective Compared To Umar Bin Abdul Aziz's Islamic Economic Thoughts On Social Justice Pephitasya Juliana; Selfa Rosmita; Siradjuddin
Al-Kharaj: Journal of Islamic Economic and Business Vol. 7 No. 4 (2025): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v7i4.8581

Abstract

The concept of social justice in societal development. Karl Marx, through his socialist economic theory, highlighted the inequality born of the capitalist system, while Umar bin Abdul Aziz, in the Islamic economic tradition, emphasized the principle of equitable distribution of wealth based on sharia values. This study aims to compare the thoughts of Karl Marx and Umar bin Abdul Aziz from a social justice perspective, while identifying common ground and conceptual differences between the two. The study employed a qualitative approach through library research. The analysis was conducted using a comparative-descriptive method. The analysis shows that Karl Marx rejected capitalism because it resulted in class exploitation and proposed the abolition of private ownership of the means of production in order to create a classless society. In contrast, Umar bin Abdul Aziz maintained the recognition of individual ownership but emphasized distributive justice through zakat, taxes, and redistribution policies. The similarities between the two lie in the goal of creating social justice, but fundamentally different in their ideological foundations: Marx's origins stem from historical materialism, while Umar bin Abdul Aziz's is based on monotheism and Islamic law. This comparison of the thoughts of Karl Marx and Umar bin Abdul Aziz demonstrates that social justice can be understood from both secular and religious perspectives. Marx's thought offers a structural critique of capitalism, while Umar bin Abdul Aziz presents solutions rooted in moral and religious values. Both make important contributions to contemporary social justice discourse
Co-Authors Abdul Wahab Andi Ahmad Dhiyauddin Murtiadi Awaluddin Radina Fauzi Selfa Rosmita Siradjuddin Sudirman