Islamic Economic Rationalism and Consumption

Journal of Islamic Businnes and Economic Review, 2019

Our current world is prevailed by sharp tendencies towards consumption, produced by conditions and developments in the fields of production, distribution, monopoly, communication, and advertising. Consumerism is no longer confined to the developed industrial world. But has affected many other parts of the poor and developing the world, it has become the subject of scientific research in different knowledge systems, foremost among them economics, psychology and sociology. However, the researchers agree that this behavior is no longer a purely individual behavior for an independent person. But has become multiple external factors contribute to the formation, and exert various effects on the individual consumer In our contemporary Islamic world, patterns of abuse of consumer behavior had been spread, the consumption of things harmful to health, morals or the natural environment, the disregard of some individuals for consumption priorities, the lack of commitment to moderation in spending, the tendency to extravagance and luxury, These behavioral imbalances have a very negative effect on the national economy and the economies of the individual. it entails a waste of natural and economic resources, the disruption of the productive structure, the waste of human energies, this deviant consumerism reality is confirmed by the presence of factors that have shaped its current image, and by addressing them we can restore consumer behavior to its rightful place. Therefore, this study aims to study the role of the Islamic economy in rationalizing consumer behavior, in addition to giving some suggestions.

2009

This paper analyzes the correlation between ethics and economics in Islamic perspectives. It is mainly related to the assumption that Islamic teachings tend to hinder economic growth. Ethics that in Islam is known as akhlak is a unity that cannot be separated from Islamic teachings. Tauhid, Akhlak and Sharia are a unity that should be conducted by a servant of God (Allah) who has duties to serve Allah SWT. However, Islamic teachings order its believers to make every effort in conducting their lives in this world. Thus, hislher existence will benefit himselflherself, humankind and nature/environment. The importance oflife in this world is also mentioned in "do a sapujagat or universal prayers" that life in this world is as important as the life in the hereafter. Sharia, which is also appraised as an obstacle to economic growth, actually aims to reach a welfare (maslahah) condition through giving a protection to five things as Faith, Life, Posterity, Reason ('Aql) and Pr...

JOMENAS Press, 2019

This paper presents the authenticity of Islamic teachings about the modernism. No doubt, consumerism showed their rights to the consumers and for redress of their loss, legislation and special consumer courts were set up. In Western countries mostly, people think while in Eastern countries some people think that consumerism gave legal support to the consumers in the present era. But this paper presents some teachings of the Holy Quran and Hadith Sciences (that are basic sources in Islamic Shariah) regarding consumer protection. By analyzing these teachings of Islam, this shows that western consumerism is not new because Islamic teachings have provided us with plenty of commandments that protect consumers and encourage traders to involve in fair dealings. Besides many verses of Holy Quran, the names of two surahs are also given by such words that condemned the wrongdoings and wrong intentions for wealth i.e. ‘Sura Mutaffefeen’ and ‘sura Takathur’. In many verses of Holy Quran, it is forbidden to give less in weight or in measurement and Arabic word ‘Bakhs’ is used for forbidden which means shorten the quantity or quality than required. Similarly, six authentic books of hadith sciences also have Kitab al-Boyou (books of transactions) in which trade matters related to consumers and producers are commanded and negative issues that disturb business matters are forbidden.

AL-FALAH : Journal of Islamic Economics, 2019

Purposes: This study discusses explaining about Muslim consumers in using maqoshid based on shariah.Design/Methodology/Approach: this study uses a type of qualitative research based on the literature study.Findings: The results of this study indicate that the benefits obtained from buying goods and services obtained with sincere intentions for worship will produce the goal of mashlahah that can be realized with halal activities. Islam has allowed its people to produce lawful things to produce something useful. In the view of Islam, Muslims must buy goods and services with a principled principle that is approved by Tayyiban in verse Al-Baqarah verse 168 and one of them is to ask our permission (hifdz nafs).Originality/Value: The paper introduce how the muslim consumption behaviour studied through maqashid shariah view. This declared the study succesfully offer new perspective in understanding moslem behaviour in consumption in difference approach, or perspective.

2017

The current analysis of utility maximization is affected by changes in income and prices. It refers to material standards which measured by numerical score representing the satisfaction that a consumer gets from a bundle of goods. Apparently, it is only to satisfy a human desire which is subjectively determined by self-interest. However, Muslim’s utility is not merely to maximize man’s satisfaction, but to achieve God pleasure as much as possible with conform his consumption to the pattern of maqashid shari’ah. This paper uses the literature review to develop a tool analysis based on maqashid shari’ah dimensions for Muslim’s utility maximization and its impact on Muslim consumption behaviors. It will address the issues of current utility concept that has been developed, the counter arguments analyse based on maqashid shari’ah within five dimensions of dharuriyah namely; preservation of faith (ad-dien), life (an-nafs), intellect (al-‘aql), progeny (an-nasl), and wealth ...

International Journal of Islamic Economics and Finance Studies

* This is the extended and revised version of the paper with the name of "İsraf ve Tüketici Dengesine Yeni Bir Yaklaşım" that was presented in International Congress on Political, Economic and Social Studies.

Journal of King Abdul Aziz University: Islamic Economics, 2021

Economics, as a distinct discipline started out as a branch of moral philosophy. Early in the 20 th century, logical positivists argued that science is the only source of knowledge, and values are not part of science. The desire to make humanities 'scientific' led to the creation of the 'social sciences', which claimed to be objective and value-free. In fact, values are inevitably involved in the study of human societies. Hence, when the social scientists could not remove them, they buried them into the foundations. In economics, 'rational' behavior was defined to be the pursuit of pleasure, without any explicit recognition or acknowledgement of the value judgment involved. Similarly, the scarcity foundations of modern economics also conceal many value judgements. In particular, secular morality at the heart of economics makes pursuit of pleasure and profits the goal of life for all rational human beings. Once we recognize the secular moral principles on which modern economics is built, the path to creating an Islamic alternative becomes clear. An Islamic society is built on the foundations of cooperation, generosity, and social responsibility, in stark contrast to the competition, greed, and individualism which are the basis of capitalist societies. Islam has a well-developed moral philosophy to deal with economic affairs, embodied in the science of fiqh (jurisprudence) as it has developed over the centuries. By rejecting the secular morality built into the foundations of modern economics, we can create a radical alternative based on the moral foundations of Islam. The modern world offers many new challenges; environments radically different from those faced by our elders. Thus, building a revolutionary Islamic economics requires ijtihad (diligent and creative research) to use the well-developed methodology of fiqh creatively to find new solutions to the deep and complex problems currently facing humanity and the planet.

This is in continuation of the essay earlier published as an introduction to “Why Islamic Economics cannot be understood with in Economics”. This essay explained that there were several reasons to justify that we did need a different analytical framework to scientifically explain economic behavior of man in the background of divine knowledge that we get from our religion. The current analytical framework of conventional Economics is neither relevant nor broad enough to realistically understand economic behavior of people with different worldview or living under different cultures on the globe. The essay identified various reasons for this. The first set of reasons, related with the objective of economic activity, was discussed in detail in the above-mentioned essay. The present essay explains in some detail the second set of reasons that relate to the economic concepts conveniently ignored by mainstream Economics. We believe in these concepts not only because they came to us through divine sources but also because we find them more logical concepts relevant for describing the reality. We find these concepts more relevant to describe reality about economic matters or economic activity or economic behavior or economic decision-making of man and we find them as amenable to scientific analysis as any other social science can be. The need for developing an alternative framework for economic analysis recognizing these concepts is a need not merely in the interest of developing Islamic Economics but it is in fact in the interest of making the subject of Economics more scientific, relevant and realistic. This series of essay aims at developing a different framework for economic analysis that will give more realistic and pluralistic social science dealing with the art of living in the world, call it Economics, or Islamic Economics or any other name.

Jurnal Ekonomi Syariah, Akuntansi, dan Perbankan (JESKaPe)/JESKaPe (Jurnal Ekonomi Syariah, Akuntansi, dan Perbankan), 2023

Human behavior is formed from the way he thinks. There are two dominant ideologies of human thinking today, the ideology of capitalism which is the dominant ideology throughout the world and is the benchmark for the actions of the majority of society. The separation of religion from life is the principle that gave rise to this ideology. Meanwhile, the ideology of socialism, even though it has experienced an era of destruction, is still being fought for by its fanatical followers. This ideology emerged from the concept of materialism. Concern and worry, perhaps two words that should be said relate to the behavioral problems that plague humanity today towards human behavior. For this reason, this study will try to unravel how the concept of human behavior in a review of Islamic economic philosophy uses descriptive qualitative research using secondary data. The results of this study describe that humans have a tendency to behave well or behave badly. There is a negative element in the soul in the form of lust (al-ghadhab and al-syahwat), so that humans have good behavior they must use reason to grasp al-hikmat, both al-hikmat al-'ilmiyyat al-nazhariyyah (theoretical wisdom) which is captured by reason theoretical and also alhikmat al-khuluqiyyat (practical wisdom). These two balances (al-hikmat) become the control of al-ghadhab and al-lust.