Monopoly and Ikhtikar in Islamic Economics
Monopoly is a form of market imperfection, which does not occur in a competitive market. Ikhtikar is a form of market distortion caused by the occurrence of engineering in the market. Monopoly, from the perspective of Islamic economics, differs from ikhtikar. There are several criteria that must be...
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| Format: | Article |
| Language: | English |
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IAIN Surakarta
2016-12-01
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| Series: | Shirkah |
| Online Access: | http://shirkah.or.id/new-ojs/index.php/home/article/view/37 |
| _version_ | 1797966159887204352 |
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| author | M. Nur Rianto Al Arif |
| author_facet | M. Nur Rianto Al Arif |
| author_sort | M. Nur Rianto Al Arif |
| collection | DOAJ |
| description | Monopoly is a form of market imperfection, which does not occur in a competitive market. Ikhtikar is a form of market distortion caused by the occurrence of engineering in the market. Monopoly, from the perspective of Islamic economics, differs from ikhtikar. There are several criteria that must be met in order for an economic action to fulfill the category of ikhtikar. In Islamic economics, it is prohibited for a producer to deliberately engineer, either by hoarding or proporting scarcity, to obtain greater profits as price becomes more expensive. In Islamic economics, a monopoly is permitted, though monopolies can not charge rent. The government must take an effective role in preventing market distortion to maximize the wellbeing of society.
Keywords: ikhtikar, monopoly, government’s role, islamic economics |
| first_indexed | 2024-04-11T02:11:21Z |
| format | Article |
| id | doaj.art-0fae93095dd24a5ea6f26338e27996da |
| institution | Directory Open Access Journal |
| issn | 2503-4235 2503-4243 |
| language | English |
| last_indexed | 2024-04-11T02:11:21Z |
| publishDate | 2016-12-01 |
| publisher | IAIN Surakarta |
| record_format | Article |
| series | Shirkah |
| spelling | doaj.art-0fae93095dd24a5ea6f26338e27996da2023-01-03T01:58:07ZengIAIN SurakartaShirkah2503-42352503-42432016-12-011329931010.22515/shirkah.v1i3.3715Monopoly and Ikhtikar in Islamic EconomicsM. Nur Rianto Al Arif0Faculty of Economics and Business, Universitas Islam Negeri Syarif Hidayatullah JakartaMonopoly is a form of market imperfection, which does not occur in a competitive market. Ikhtikar is a form of market distortion caused by the occurrence of engineering in the market. Monopoly, from the perspective of Islamic economics, differs from ikhtikar. There are several criteria that must be met in order for an economic action to fulfill the category of ikhtikar. In Islamic economics, it is prohibited for a producer to deliberately engineer, either by hoarding or proporting scarcity, to obtain greater profits as price becomes more expensive. In Islamic economics, a monopoly is permitted, though monopolies can not charge rent. The government must take an effective role in preventing market distortion to maximize the wellbeing of society. Keywords: ikhtikar, monopoly, government’s role, islamic economicshttp://shirkah.or.id/new-ojs/index.php/home/article/view/37 |
| spellingShingle | M. Nur Rianto Al Arif Monopoly and Ikhtikar in Islamic Economics Shirkah |
| title | Monopoly and Ikhtikar in Islamic Economics |
| title_full | Monopoly and Ikhtikar in Islamic Economics |
| title_fullStr | Monopoly and Ikhtikar in Islamic Economics |
| title_full_unstemmed | Monopoly and Ikhtikar in Islamic Economics |
| title_short | Monopoly and Ikhtikar in Islamic Economics |
| title_sort | monopoly and ikhtikar in islamic economics |
| url | http://shirkah.or.id/new-ojs/index.php/home/article/view/37 |
| work_keys_str_mv | AT mnurriantoalarif monopolyandikhtikarinislamiceconomics |