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All Journal Likuid: Jurnal Ekonomi Industri Halal Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah
anton athoillah
UIN Sunan Gunung Djati
Economics, Econometrics & Finance

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The Concept of Price Mechanism in The Halal Industry Refers to The Thought of The Price Concept of Yahya Bin Umar and Ibnu Taimiyah Ahmad Luqman Hakim; Yadi Janwari; Dedah Jubaedah; anton athoillah
Likuid Jurnal Ekonomi Industri Halal Vol 3, No 2 (2023): LIKUID: Jurnal Ekonomi Industri Halal
Publisher : Sharia Economics Study Program Faculty of Islamic Economics and Business UIN Sunan Gunun

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/likuid.v3i2.28133

Abstract

The price mechanism in the halal industry has an important role in determining the value and price of halal products. The concept of pricing mechanism in Islam has been initiated by the thinkers Yahya bin Umar and Ibn Taymiyyah. The purpose of this study is to find out how the relationship between the pricing mechanisms of the two Islamic thinkers in the halal industry. Descriptive analytical with qualitative research methods and a historical approach are used in this research. As a result, Yahya bin Umar and Ibn Taymiyyah's approaches to the pricing mechanism provide different perspectives but are in line with the context of healthy and fair pricing. Yahya bin Umar views that prices are determined by the ideal market mechanism, while Ibn Taymiyyah emphasizes the importance of healthy competition and wise government intervention. The price mechanism in the halal industry should reflect the intrinsic value of the product, ensure fairness in transactions, and support the sustainability of the industry. The government can use the price mechanism to set a minimum price or ensure halal products meet certain standards. Fair and competitive pricing will enable wider access to halal products and maintain consumer confidence over a longer period.
A Comparative Analysis of Consumption Theories by Harold Domar and Monzer Kahf and Their Impact on National Economic Policies Nurjamil Nurjamil; Anton Athoillah
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol. 9 No. 2 (2024)
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v9i2.18863

Abstract

This study aims to compare the consumption theories of Harold Domar and Monzer Kahf, highlighting their differences and implications for national economic policies. The research uses a qualitative approach and a literature review method to analyse the theories through a descriptive-comparative framework. Harold Domar’s theory adopts a traditional economic perspective, emphasising the relationship between income, savings, and investment as drivers of consumption and economic growth. Domar’s model provides a solid foundation for fiscal and monetary policies that stimulate growth through investment and consumption. In contrast, Monzer Kahf’s theory presents a holistic approach rooted in Islamic principles, integrating psychological, social, and cultural factors into consumption behaviour. Kahf emphasises ethical consumption, moderation, and social justice, aligning economic activities with spiritual values and sustainability. His framework incorporates key Islamic concepts such as At-Tayyibat (all that is good) and Ar-Rizq (provisions from God), advocating for consumption that fulfils material and spiritual needs while avoiding extravagance (israf) and wastefulness (tabzir). The findings reveal that while Domar’s theory is highly relevant for data-driven economic analysis and traditional policy planning, Kahf’s approach offers an ethical and inclusive perspective that addresses contemporary challenges like environmental sustainability and social welfare. This study concludes that both theories when combined, provide a comprehensive basis for crafting sustainable and equitable national economic policies.Keywords: Harold Domar, Monzer Kahf, Consumption Theory, Economic Policy, Islamic Economics, Moderation, Sustainability
Co-Authors Ahmad Luqman Hakim Jubaedah, Dedah Nurjamil Yadi Janwari