The Relevance of Ibn Khaldun’s Economic Thought on The Prices Mechanism in The Modern Economy
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Published:
Dec 7, 2022
Keywords:
Demand and supply analysis, Ibn Khaldun, Muqaddimah, Price mechanism
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Abstract
Ibn Khaldun is known as one of the Muslim scholars who made significant contributions to the social sciences, including economics. Ibn Khaldun developed his thoughts on the price mechanism in the market by looking at the condition of Andalusian society at that time. This study aims to discover Ibn Khaldun's thoughts regarding the price mechanism, both from the supply and demand sides, and whether these thoughts remain relevant to today's economic phenomena. The results of the analysis show that naturally, the price in the market is formed due to the process of attraction between demand and supply. This research found that people's tastes are a factor that shifts the demand curve. Meanwhile, product scarcity and production costs shift the supply curve. Ibn Khaldun's thought aligns with modern economic theory and remains relevant to present economic phenomena.
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How to Cite
Nisak, K. (2022). The Relevance of Ibn Khaldun’s Economic Thought on The Prices Mechanism in The Modern Economy. Invest Journal of Sharia & Economic Law, 2(2), 126-138. https://doi.org/10.21154/invest.v2i2.5092
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Aryanti, Yosi. “Pemikiran Ekonomi Ibn Khaldun; Pendekatan Dinamika Sosial Ekonomi Dan Politik Ibn Khaldun’s Economic Thought; Social Economic and Political Dynamics Approach.” Jurnal Imara, 2018.
Baharuddin, Didin. “Tas’ir (Price Fixing) Dalam Perspektif Maqashid Al-Syari’ah.” Tahkim Vol. XIII, (2017).
Beik, I.S., and L.D. Arsyianti. “Ibn Khaldun’s Contribution on Modern Economic Development: An Analysis Based on Selected Economic Issues.” An International Conference on Ibn Khaldun, no. August (2006): 1–16.
Beik, Irfan Sauqi. “Islamisasi Ilmu Ekonomi.” Islamiconomic: Jurnal Ekonomi Islam 7, no. 2 (2016): 183–204.
Handoko, Luqman Hakim. “History of Islamic Economic Thought: A Content Analysis.” Library Philosophy and Practice 2020, no. October (2020): 1–14.
Henry, Khairil. “Konsep Ekonomi Ibnu Khaldun Dan Relevansinya Dengan Teori Ekonomi Modern (Studi Analisis Konsep Ekonomi Dalam Kitab Muqaddimah).” Al-Fikra : Jurnal Ilmiah Keislaman 19, no. 1 (2020). https://doi.org/10.24014/af.v19i1.10064.
Huda, Choirul. “Pemikiran Ekonomi Bapak Ekonomi Islam: Ibnu Khaldun.” Economica: Journal of Islamic Economics 4, no. 1 (2016): 103.
Huda, Nurul. “Epistemologi Pemikiran Ekonomi Ibn Khaldun.” Proceeding of International Conference On Islamic Epistemology, 2016, 211–19.
Kamariah, K. “Ekonomi Mikro: Prinsip-Prinsip Penetapan Harga Menurut Ibnu Khaldun.” Ats-Tsarwah: Jurnal Hukum Ekonomi Islam 2 (2022): 17–33.
Karim, Adiwarman Azwar. Ekonomi Mikro Islami. Jakarta: PT Raja Grafindo Persada, 2007.
Khaldun, Ibnu. Muqaddimah (Terjemah). Ketiga. Jakarta: Pustaka Al-Kautsar, 2001.
Mankiw, N Gregory. Principles of Economics, 8th Ed. Boston: Cengage Learning, 2016.
Martina, Dewi. “(Kholdunomic) Menelaah Pemikiran Ibnu Khaldun.” Ijtihad: Jurnal Hukum Dan Ekonomi Islam 9, Nomor 1 (2015): 82–83.
Mujahidin, Muhamad. “Ibn Khaldun ’ s Economic Thought.” Ibn Khaldun’s Economic Thought Mujahidin, 87192, no. 87192 (2018): 87192.
Muslim, Moch. Bukhori. “Ibn Khaldun: Managing Justice in Economy” 162, no. Iclj 2017 (2018): 129–32. https://doi.org/10.2991/iclj-17.2018.27.
Rusdi, Faisal, and Tika Widiastuti. “Rancangan Kebijakan Harga Di Pasar: Telaah Atas Pemikiran Ibnu Khaldun Dan Ibnu Taimiyyah.” Jurnal Ekonomi Syariah Teori Dan Terapan 7, no. 9 (2020): 1755. https://doi.org/10.20473/vol7iss20209pp1755-1769.
Setiawan, Rahyuniati. “Faktor-Faktor Yang Mempengaruhi Permintaan Jasa Pariwisata Pemandian Air Panas.” Business Innovation and Entrepreneurship Journal 1, no. 1 (2019): 53–61. https://doi.org/10.35899/biej.v1i1.2.
Sopiandi, Endis, Didin Hafiduddin, and Hendri Tanjung. “Analisis Distorsi Pasar Dalam Perspektif Ekonomi Islam.” Kasaba: Jurnal Ekonomi Islam 10, no. 1 (2017): 113–30.
Sri Hartoyo, Eka Intan K.P. “Dampak Kenaikan Harga Minyak Bumi Terhadap Ketersediaan Minyak Goreng Sawit Domestik.” Jurnal Ekonomi Dan Pembangunan Indonesia XI, no. 2 (2011): 169–79.
Ulum, Bahrul, and Mufarrohah. “Kontribusi Ibnu Khaldun Terhadap Perkembangan Ekonomi Islam Pendahuluan.” Jurnal Ekonomi Syariah (IQTISHADIA) 1, no. 2 (2016): 17–32.
Wulpiah. “Pemikiran Ibnu Khaldun Tentang Mekanisme Pasar.” ASY-SYAR’YYAH 1, no. 1 (2016): 42–62.