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All Journal Balanca : Jurnal Ekonomi dan Bisnis Islam Southeast Asia Journal of Graduate of Islamic Business and Economics
Rahman Ambo Mase
Unknown Affiliation
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Market Engineering in Supply: Ikhtikar of Perspectives Islamic Economics Damayanti, Arka; Rahman Ambo Mase
Balanca : Jurnal Ekonomi dan Bisnis Islam Vol 5 No 2 (2023): Balanca: Jurnal Ekonomi dan Bisnis Islam
Publisher : Institut Agama Islam Negeri Parepare

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35905/balanca.v5i2.5793

Abstract

The market mechanism is guaranteed freedom in Islam. The market is free to determine the means of production and prices, and there should be no interference that results in the destruction of the market balance. But in reality it is difficult to find a market that runs by itself fairly. One of them is the practice of hoarding or what is often referred to as monopolistic practices carried out by producers or sellers so that the availability of basic necessities is getting thinner and scarcer so that they can play prices in the market. Seeing this, this article aims to see whether hoarding practices are a form of market engineering in supply (ikhtikar) and to explain the views of Islamic Economics regarding hoarding practices (monopoly). This article is a library research and uses a qualitative method with a normative approach. The data source used is secondary data derived from books, journals and articles related to the practice of ikhtikar, hoarding, and monopoly as well as how Islamic economics views. The results of this study found that price fluctuations also occur due to fraudulent actions in the market such as hoarding by speculators. The act of hoarding in question is market engineering in supply (ikhtikar). The practice of ikhtikar is strictly prohibited in Islamic Economics because it can disrupt the market mechanism. For this reason, the role of the government as a policy maker is needed to regulate in order to create a fair price.
The Concept Of Islamic Economics In The School Of Baqir Al-Shadr: Introduction Kartika; Rahman Ambo Mase; Muslimin H. Kara
SOUTHEAST ASIA JOURNAL oF GRADUATE OF ISLAMIC BUSINESS AND ECONOMICS Vol. 4 No. 2 (2025): September
Publisher : Pascasarjana, Institut Agama Islam Sultan Muhammad Syafiuddin Sambas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37567/sajgibe.v4i2.4075

Abstract

This study aims to analyze the Islamic economic thought of Baqir Al-Shadr, with a particular focus on the distinction between conventional economics and Islamic economics, as well as his concepts of ownership, wealth distribution, production, and consumption. Employing a qualitative approach through a structured literature review, the research examines Baqir Al-Shadr's seminal works, Iqtishaduna and Falsafatuna, alongside relevant secondary literature on Islamic economics. The findings reveal that Baqir Al-Shadr firmly differentiates Islamic economics from conventional economics by grounding it in moral, ethical, and social justice principles derived from Islamic teachings. He advocates for a balanced system where the state plays an active role in ensuring equitable wealth distribution and production that prioritizes public welfare. Furthermore, his views on ownership emphasize limited private rights and promote the management of resources for collective benefit. These insights contribute to the theoretical development of Islamic economics and highlight its potential as a viable alternative for establishing a more just and sustainable global economic order.
Co-Authors Damayanti, Arka Kartika Muslimin H. Kara