Islam dan Pasar: Studi Atas Pemikiran AbÅ« Ḥasan Al-MÄwardÄ« Tentang Mekanisme Pasar

Abstract

This paper analyzes Imam al-MÄwardi's economic thought. He is a Muslim scholar, an interdisciplinary scientist who has contributed to Islamic economic concepts. This article is one of the arguments about the weakness of Schumpeter's "the Great Gap" thesis which considers the history of economic thought to jump dramatically from ancient Greek times to St. Thomas Aquinas by ignoring the contribution of Muslim scholars/economists who greatly influenced the period. This research focuses on al-Mawardi's view of the market mechanism, tas'Ä«r and hisbah institutions using the literature method and analyzed with philosophical and historical approaches. About the market mechanism, al-MÄwardi argues that in principle the market must proceed naturally (freely) and government intervention in the market is allowed to monitor economic fraud, crime and to stabilize of economic condition. Interestingly, this concept is almost the same as the thought of John Maynard Keynes (Fathers of Modern Economics). This thinking seems to precede the modern economic concept of the task of government and the market system.