Economic Growth and Human Development in Islam (original) (raw)
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Economic Development in an Islamic Perspective*
2010
A main challenge faced by the world of Islam today, is the challenge of redeveloping and restructuring theirs economy in such a way are considered commensurate with the Shari'ah role point of you. Economic development is one of the subjects that basically are categorized as a science that offers an approach in reaching the ultimate goals of developing economics science. However, the conventional approach, that has been built, is being considered failure in solving the Ummah problems, such as poverty, backwardness in human capital, and attainment in proper jobs and life, and even a climate change issue. Unfortunately, those condition are predominantly found in Muslim world, whereby inherently have been emerging and embodying in Muslim life. Furthermore, arguably the paradox of Muslim world has been facing, is that, it is naturally resourcerich but economically and commonly weak and poor. As matter of the fact that in Muslim society, there is a lack of motivation achievement. So that, there is no rule out the possibility to find out the appearance a number of approaches within Islamic framework, notably in the area of economic development. In addition, economic development which is viewed as integral part of science, is that, must be original and constructive in nature. It must be guided and apparently come up from a deep understanding which originally is rooted from ideals and supreme values of the Quran and the Sunnah which is pooled in Islam faith. As Islam is a complete and comprehensive tenets, so that it is being laying as a teaching that close to some characters, such as, hard effort, struggle, movement, and also highly motivation toward social change. Furthermore, it is no merely a set of beliefs, but it also provides a guidelines and a set of action through sequence programs. Briefly, Islam is a faith, and also a tenet that come up with an idea which is not separately conducted within a disintegrated and a divisible element-between moral and sosio-economic development of human capital improvement in the area of implementation. Since, economic development in Islam is strictly goal-oriented, economic agents have to set a certain goal which do not go beyond "the objectives of Syariah (Maqasid Al Shari'ah)". Finally, we may bring up to the idea that economic development in Islamic perspective is trying to reconstruct an idea that development means the improvement in moral, spiritual, and material as well, and certainly the achievement which is relied upon a balanced personality committed to and capable of acting as the supreme submission to the Truth of God guideline. Accordingly, this paper also comes up with an general issue about how the current development policy and actual development are able to stand in relation in Islam.
2007
The ethical values that have been stressed in the concept of Islam Hadhari are seen to be a motivating factor for man to work harder, have a sense of respect, self-discipline, honesty, justice, fairness and accountability, in order to ensure that the country would prosper and develop, as in line with the teachings of Islam. As far as trade and commerce is concerned, al-Qur'an has indeed pointed out that trade and commerce is made permissible in order to develop human being so that they will not suffer in poverty and difficulties. In Surah al-Baqarah verse 275 Allah SWT says: "But Allah hath permitted trade and forbidden usury..." Hence in the quest of trade man needs to adhere to the Islamic principles where the concept of lawfulness should be considered in the business activities. Whatever is permitted should be followed and whatever is forbidden should be restrained. This paper will discuss on some of quranic verses in terms of promoting economic growth and social de...
Islamic Perspective on Economic Development
2016
There is a need for introducing Islamic ideas and values in the teaching of economic development. Behavior assumption of conventional economics do not all applies to behavior required of Muslims by their religion. Assuring average level of compliance with Islamic injunction. This has important implication for Microeconomics. Public expenditure in an Islamic economy, an Islamic evaluation of contemporary taxes of zakat pre discussed in the context of teaching public finance. International economic relations and issues in development economics are discussed in the third world perspective within the framework of Islam. The issue of free trade versus protection, issues relating to economic development and political of Islamic modes of economic is examined. Islam has the put down the principles of social and economic justice, brotherhood, rules of earning and spending duties and responsibilities of individual and state for smooth running of social and economic system. Islam is a universa...
Economic Development: A Critique of Secular Theories and an Introduction to an Islamic Theory
The paper presents crtisism to secular development and growth theories. Questions are posed; why these theories could not help the developing world (in general and Islamic world in particular) in constructing policies that would narrow the poverty or development gap? Admitting that these theories could not be applied successfully or misused or else means that economists in the developing world have to search into the reasons for their underdevelopment, for their problems and find out how to develop. Concerning the Islamic world a successful Islamic development theory should not only be based on understanding our actual conditions and our problems but also in maintaing our culture, which is part of Islamic relegion. It is argued that human resources which, according to this culture, is the prime mover of development and its most important target. The paper explains how the application of Sharia (Islamic Law) would bring about the right climate for economic development and how maitaning Aqida ( Islamic ideology) would trigger off Human resources motivations towards love of work, co-operation, improving quality of products, innovation, etc. And how the balance between material and spiritual keeps balance between social and economic targets and maintains socio- economic justice.
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Humanities & Social Sciences Reviews
Purpose of Study: The aim of this paper is analyzing Islamic teaching on economic growth. Methodology: The methods are the constructing method to differ Islamic teaching from the economic growth concept and the conceptualizing method to form the Islamic economic growth concept. Results: The results are Islamic teaching prefers to place economic growth as an implicit issue, while economic right as an explicit issue and the Islamic economic growth rate is the natural economic growth rate that contains social surplus. The rate is higher than the population growth rate. Other results are a normal industry and the Bayt al-mal is not as an instrument of fiscal and monetary policies. The concept can be compared to the Historical, Keynesian and Classical and Neoclassical concepts. Implications/Applications: The Islamic economic growth concept can be used to avoid economic problems, to cause economy runs normally and to have a social surplus.
International Journal of Excellence in Islamic Banking and Finance, 2014
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Religious Based Economy: Reflection on Economic Development Outcomes in Islam
In western economic religion has problematic implication for the achievement of development outcomes. How can the presence, nature and activities of religious people and the organization, best be understood and taken into account in the course of economic development activities? It may be implicated in conflict or oppose desires of social changes. In Islam economic development is un-separated part of economics and social system, even economic should go hand in hand with the religion. This paper examines some concepts and principles of economic development and its outcomes in Islam as religious based economy comparing to the western and secular economic development outcomes.
ISLAM'S LEGACY TO THE MODERN WORLD – Perspectives for Economic Development of a Nation
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Islamic Economic Model in Reducing Gap of Growth and Unemployement
HUNAFA: Jurnal Studia Islamika, 2018
The theme of the article is based on economic principles of Islam. The purpose of research is to see economic development in the perspective of the Islamic economy especially research aims to analyze the effect of economic growth and unemployment in Indonesia period 1998-2017, a perspective of the Islamic economy. Economic development is one of the strategies to achieve the goals aspired nation. The goal is how poverty, unemployment, economic disparity and social resolved so as to realize human welfare. But in fact, the construction of which is expected to have an influence on society has not caused yet siding with the people. Increased poverty and unemployment occur. This type of research is an ex post facto. Technical documentation was applied for searching the data from Statistics Central Board, Indonesia Bank, BAPPENAS in Indonesia. Data analysis technique was Regression. Data analysis shows that: there is a negative influence toward economic growth in the rate of Indonesia and ...
Convergence Islamic Values as Economic Development
Tasikmalaya economic growth has been increasing economic growth in the last 10 years. This is influenced by the fulfillment of unlimited human needs.This study aims to analyze the relationship between religious values held by entrepreneurs and economic growth. The method used is descriptive qualitative with an economic anthropology approach. The results show that entrepreneurs who come from various ethnic in Indonesia show that religious teachings really influence the level of their business activities. That business is not only for material purposes only but is further than that as an end day investment. The values of religious sacredness have been inherent in the personality of entrepreneurs such as honesty, frugality, openness and transparency, which are religious values taught when making transactions. These religious values in fact have an impact on increasing the value of sales in their business, with the increase in their business directly driving regional economic growth. income increases, unemployment decreases, local taxes increase. This shows that the work ethic of Muslim entrepreneurs in Tasikmalaya has helped in national economic growth. Finally, the local government can maintain harmony and peace in the economic and political situation of Tasikmalaya so that the climate of economic growth and the prosperity of the people can be maintained.