Construction of M. Umer Chapra’s Economic Thoughts in ealizing Efficiency and Justice

Rofiah, Khusniati and Ghozali, Mohammad (2020) Construction of M. Umer Chapra’s Economic Thoughts in ealizing Efficiency and Justice. Al-Iktisab: Journal of Islamic Economic Law, 4 (1). pp. 14-33. ISSN ISSN 2580-4251

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Abstract

A study of thought in the economic setting of Muslims, This study aims to find out
the concept of thinking of a Muslim economist. M. Umer Chapra examines the existence of
universal economic problems faced by the nations of the world, namely the lack of human
well-being due to lack of efficiency and justice in the allocation of God-given resources, which
cannot be solved by the conventional system. As an alternative to achieving efficiency and
justice, Chapra proposes an Islamic economic system that has a worldview and strategy in
line with the Islamic Sharia that enables it to print a fair and viable solution in Muslim
countries. For Chapra, the main purpose of the management of allocation and distribution
should not deviate from the maqashid al-sharia (sharia goal) which is the well-being of the
people. Method of this study using literacy, data collection and collection of objects, in this
study it is found that the world view of Islamic economy according to Chapra is based on
three basic principles: monotheism, caliphate and ‘is. Harmony between the al-sharia and
the worldview is not enough to bring efficiency and justice to the well-being of the people,
according to Chapra needed a strategy for organizing the economic system with four
necessary and mutually supportive elements: filter mechanism (filter mechanism), correct
motivation (correct motivation), socio-economic and financial (socio-economic and financial)
restructuring, and the role of the nation (the role of the nation).

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