Reconstruction of Classical Islamic Economic Thought: An Analysis of Classical Texts in the Context of Economic Modernization

Nurdiana Nurdiana (Universitas Dipa Makassar)
Hamzahkhaeriyah Hamzahkhaeriyah (Universitas Dipa Makassar)
Muslimin Kara (Universitas Dipa Makassar)

Formosa Journal of Applied Sciences (FJAS)
Vol. 4 No. 6 (2025): June 2025

This research aims to analyze and reconstruct classical Islamic economic thought in the context of global economic modernization. The classical Islamic economic thought embodied in the writings of scholars such as Ibn Khaldun, Al-Ghazali, and Al-Maqrizi provides a solid basis for developing an economic system that is just, sustainable, and oriented towards social welfare. The method used in this study is a qualitative approach with a literature study, in which the researcher analyzes classical texts as well as contemporary literature on Islamic economics. The analysis was carried out using a reconstructive approach to adapt classical theories to be relevant to current economic needs. The results of this study show that classical Islamic economic thought, such as the principles of fair distribution of wealth, ethical markets, and sustainable development, are still very relevant in addressing the various economic problems facing the world today.