Muqtasid: Jurnal Ekonomi dan Perbankan Syariah
Vol 11, No 1 (2020): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah

Maqashid Shariah's Criticism of the Pareto Optimum Theory

Iwan Setiawan (UIN Sunan Gunung Djati, Bandung)



Article Info

Publish Date
18 Jun 2020

Abstract

AbstractThis research analyzes the concept of maqashid sharia and the optimum Pareto theory. It was conducted in the form of library research, where data was obtained from literatures relating to the development of Islamic economics, the optimum Pareto theory, and maqashid sharia. Qualitative techniques were used to analyze unquantifiable data. The results show that the optimum Pareto theory has weaknesses and does not guarantee justice for the whole community. For instance, in achieving maximum efficiency, others must be sacrificed. This is contrary to the concept of Islamic economics which emphasizes justice for all parties to a transaction. Maqashid sharia has values that guide religion (din), soul (nafs), reasoning ('aql), property (mall), and offspring (nasab) as a reference to explain the weakness of the Pareto optimum theory. It applies especially in the distribution of wealth and welfare of the people. Pareto efficiency cannot be used as a basis for achieving economic goals since it is not impartial.

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Journal Info

Abbrev

muqtasid

Publisher

Subject

Economics, Econometrics & Finance

Description

Muqtasid: Jurnal Ekonomi dan Perbankan Syariah (Muqtasid), with registered number ISSN 2087-7013 (Print) and ISSN 2527-8304 (Online), is a peer-reviewed journal published two times a year (January-June, and July-December) by Faculty of Islamic Economics and Business, IAIN Salatiga. Muqtasid is ...