Al-Ghazali’s Economic Thought: Its Nature and Contemporary Relevance
DOI:
https://doi.org/10.11113/sh.v4n2.558Keywords:
al-Ghazali, contemporary economy, pricing mechanism, work specialization, barter system and need of currencyAbstract
The titles ‘hujjatul Islam’ given to al-Ghazali clearly describe his personalities and the importance of his thought. His thought and works had been referred and used as guidance for more than 1000 years. His perspective in economy had covered many aspects and some of them might comparable to contemporary economic thought. This article will highlight concepts that been proposed by al-Ghazali and to analyze it’s relevancy compared to contemporary economic concepts. Some of the concepts and topics of discussion such as economy theory, pricing mechanism, work specialization, barter system & currency, international trade, population and several others proposed by al-Ghazali in some extend had exceeded the concept which have been proposed by contemporary economic scholars.
References
‘Abul-Alaa, Muhammad Mustafa (1983). Introduction: Imam al-Ghazali biography inal-Ghazali 1983. TimbanganAmal (translated byM.Ali Chasan Umar & A. Chumaidi Umar). Singapura.Pustaka Nasional Pte. Ltd.
Abdul Qayyum. (1983). Surat-Surat al-Ghazali (translation by Haidar Bagir). Singapura. Speedy Self Study System.
Abu Ubaid. Al-Amwal. Mesir. Dar al-Huda al-Nabawi.
Abu Yusuf. (1382 H). Kitab al-Kharaj. Kahirah. Al-Matba’ah al-Salafiyah.
Adam Smith. (1980). The Wealth of Nations. Great Britain. Penguin Book Ltd.
Adiwarman Azwar Krim. (2006). Sejarah Pemikiran Ekonomi Islam. Edisi ke 3. Jakarta. PT RajagrafindoPersada.
Ahmad Dimyati. (2008). Teori Kewangan Islam: Rekonstruksi Metodologi Terhadap Teori Kewangan al-Ghazali. Yogyakarta. UII Press.
Aidit Ghazali. (1991). Islamic Thinkers on Economics, Administration dan Transactions. Vol 1. Kuala Lumpur. Quill Publishers.
Akram Khan, M. (1982). Appendix: al-Hisba and The Islamic Economics. In IbnTaimiyah . Public Duties In Islam. Leicester. The Islamic Foundation, hlm 135–150.
Al-Ghazali. (1964). Mizan al-‘Amal. Ed SulaimanDunya. Mesir. Dar al-Ma’arif.
Al-Ghazali. (1983). Timbangan Amal (translated by M.Ali Chasan Umar andA.Chumaidi Umar). Singapura. PustakaNasional Pte. Ltd.
Al-Ghazali. (2004) (2). IhyaUlumiddin (juz al-Thani). Kaherah. Darul Hadith
Al-Ghazali. (2004) (3). IhyaUlumiddin (juz al-Thalith). Kaherah. Darul Hadith
Al-Ghazali. (T.t.). Munkiz min al-Dalal dalam Majmu’ al-Risalah al-Imam al-Ghazali. Cairo. Al-Maktabah al-Taufiqiyah.
Al-Shaybani, Muhammad Hasan. (1986). Al-Iktisab fi al-Rizq. Beirut. Dar al-Kutub al-Ilmiyah.
Baumol, W. J. & A. S. Blinder. (1998). Economics: Principles and Policy. Seventh Edition. USA. The Dryden Press.
Chapra, Muhammad Umar. (1992). Islam and Economic Challenge. Leicester. The Islamic Foundation.
Diaw, Abu. (2009). Imam al-Ghazali’s Views on Economic Activities. Munich PersonelRePEc Archive (MPRA), No 32515.
Ghazanfar, S. M. & A. A. Islahi. Economic Thought of al-Ghazali. Scientific Publising Center, Islamic Economics Series, King Abdul Aziz University-2, Jeddah.
Hailani Muji Tahir & Sanep Ahmad. (2009). Aplikasi Fiqh Muamalat dalam Sistem Kewangan Islam. Shah Alam. University publication, UiTM.
Hanson, J. L. (1966). A Textbook of Economics. London. MacDonald and Evans Ltd.
Ibn Khaldun. (1967). The Muqaddimah (translated from Arabic by Franz Rosenthal). London. Routledge and Kegan Paul.
Ibn Khaldun. (1984). Al-Muqaddimah. Beirut. Dar al-Qalam.
IbnTaimiyah. (1982). Public Duties in Islam: The Translation of the Hisba. Leicester. The Islamic Foundation.
Islahi, Abdul Azim. (1985). Ibn Taimiyah’s Concept of Market Mechanism. Journal of Research in Islamic Economics, 2(2), 55–64.
Islahi, Abdul Azim. (2001). An Analytical Study of al-Ghazali Thought on Money and Interest. Munich PersonelRePEc Archive (MPRA) No 41438.
Islahi, Abdul Azim. (2005). Cotributions of Islamic Schoolars to Economic Thought and Analysis (11-905 A.H./632-1500 A.D). Scientific Publishing Centre, King Abdul Aziz University, Jeddah.
Kahf, Monzer. (1983). Taxation Policy In an Islam dlm.Ziauddin Ahmad, M. Iqbal & M. F. Khan (ed). Fiscal Policy and Resource Allocation in Islam. Islamabad. Institute of Policy Studies. Hlm. 131–153.
Khan, Muhammad Akram. (1992). Economic Teachings of Prophet Muhammad-A Selected Anthology of Hadith Literature on Economics. Delhi. Noor Publishing House.
Lipsey, Richard G. (1975). An Introduction to Positive Economics. Forth Edition. Great Britain. ELBS.
Malthus, Thomas Robert. (1798). An Essay on the Principle of Population. New York. W.W. Norton & Company Inc.
Mannan, Muhammad Abdul. (1970). Islamic Economics: Theory and Practice. Lahore. Sh. Muhammad Ashraf.
Mannan, Muhammad Abdul. (1989). Ekonomi Islam :Teori and Praktis (Jil.1). Kuala Lumpur. A.S.Noordeen.
Marshall, A. (1920). Principles of Economics. Book 2. Edisi 8. London. MacMillan & Co. Ltd.
O’Sullivan, Arthur. (2009). Urban Economics. Forth Edition. Singapore. McGraw-Hill.
Robbins, L. (1932). Nature and Significance of Economic Science. London. MacMillan & Co. Ltd
Rus’an. (1985). Ibn Khaldun Tentang Sosial dan Ekonomi. Singapura. Pustaka Nasional Pte. Ltd.
Samuelson, P. A. (1973). Economics. Tokyo. McGraw-Hill Kogakusha Ltd.
Schumpeter, J. A. (1972). History of Economics Analysis. London. George Allen & Unwin Ltd.
Siddiqi, Muhammad Nejatullah. (1992). History of Islamic Thought dlm Ausaf Ahmad & Kazim Raza Awan, Lectures on Islamic Economics. Jeddah. Islamic Research & Trainning Institiute (IRTI), Islamic Development Bank.
