<![CDATA[The concept of the people’s economy developed by Mohammad Hatta is relevant to the principles of Islamic economics, as both emphasize public welfare, justice, social benefit, and the principle of family-based economic organization as fundamental foundations of economic life. This study aims to examine Mohammad Hatta’s thoughts on the people’s economy, particularly the factors underlying its development and the Islamic philosophical values embedded within it. This study employs historical and Islamic philosophical approaches. The historical approach is used to trace the development of Mohammad Hatta’s ideas on the people’s economy by examining his family background, education, Minangkabau traditions, religious life, and the influence of European intellectual traditions. Meanwhile, the Islamic philosophical approach is employed to analyze Islamic values related to welfare, justice, and public benefit based on the principles of Sharia. The findings indicate that, historically, Mohammad Hatta’s concept of the people’s economy was influenced by his family and educational background, Minangkabau traditions, religious values, and the development of European economic thought. From the perspective of Islamic philosophy, the people’s economy is consistent with the principles of welfare, justice, and public benefit oriented toward the interests of society as a whole. Therefore, Mohammad Hatta’s concept of the people’s economy has philosophical relevance to the principles of Islamic economics, particularly in establishing an economic system that promotes justice, public benefit, and the welfare of society.]]>
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