al-Afkar, Journal For Islamic Studies
Vol. 6 No. 4 (2023)

Correlation and Relevance of Islamic Economic Theory and Modern Economics

Muhammad Yunus (Universitas Islam Bandung)
Yadi Janwari (UIN Sunan Gunung Djati Bandung)
Ahmad Hasan Ridwan (UIN Sunan Gunung Djati Bandung)



Article Info

Publish Date
11 Aug 2023

Abstract

This study aims to explain the correlation between economics and Islam. This research uses qualitative research, with a normative juridical approach and data collection techniques by means of literature study. The results of this study indicate that Islam is a perfect religion that regulates all aspects of human life including the economy. This is proven by the concept of welfare described in the Qur'an and Sunnah. Basically, the purpose of every human being's life is to achieve welfare, although humans interpret welfare from different perspectives. Most economic understandings assume that welfare is worldly material welfare. However, Islam defines welfare with the term Falah, which means holistic and balanced welfare between the material and spiritual dimensions. The Quran and Sunnah have taught that welfare will be achieved if humans live a life in balance between their material and spiritual lives. This is because human life does not only stop in this world, but there is still a second life that humans will face in the hereafter, and welfare will be achieved truly if humans can balance the needs of the world and the hereafter, and that is what is taught in Islamic economics

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Journal Info

Abbrev

Afkar_Journal

Publisher

Subject

Social Sciences

Description

al-Afkar, Journal for Islamic Studies is published by Association of Secondment Lecturers (Asosiasi Dosen DPK) UIN Sunan Gunung Djati Bandung Indonesia. Focus of al-Afkar, Journal for Islamic Studies is on publishing original empirical research articles and theoretical reviews of Islamic Studies, ...