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Price Policy in Islamic Civilization Thought – A Formative Study السياسة السعريّة في الفكر الحضاريّ الإسلاميّ - دراسة تكوينية -

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  • Mohammed Hassan Al-Zahrani

    (Associate Professor of Economics - Department of Islamic Economics Umm Al-Qura University - Makkah Al-Mukarramah - Saudi Arabia)

Abstract

The focus of the current study is on formulating a theoretical and analytical structure for the price policy as mentioned in the literature of the heritage of Islamic civilization, in terms of defining its concept, types, and objectives, and clarifying the intellectual trends that stand against the idea of state intervention, and proving the ineffectiveness of price policy. On the other hand, the study also presents the traditional intellectual trend that calls for the state to intervene to counteract the market imbalances, which are reflected in the price index, considering it a duty of the state. The study also seeks to indicate the extent of the intervention, and sets conditions for designing the price policy, and stipulates requirements to achieve fairness of the price policy, as with justice effectiveness is achieved. The study concludes with a recommendation to activate research programs that are oriented towards price policy, to be next to other macro policies. ينصب اهتمام الدراسة على صياغة بناء نظريّ تحليليّ للسياسة السعريّة كما وردت في أدبيات التراث الحضاريّ الإسلاميّ؛ من حيث تحديد مفهومها، وأنواعها، وأهدافها، وبيان الاتجاهات الفكرية التي تقف ضد فكرة تدخّل الدولة في النشاط المعاشي (الاقتصادي)، وإثبات عدم فعالية السياسة السعرية. وفي المقابل تعرض الدراسة للاتجاه الفكري التراثي الذي يطالب بتدخّل الدولة لمواجهة الاختلالات السوقية المنعكسة على مؤشر الأسعار، باعتبار أنّ ذلك واجبًا على الدولة. كما تسعى الدراسة إلى بيان مدى التدخّل، وتضع شروطًا في تصميم السياسة السعريّة، وتشترط متطلبات لتحقيق عدالة السياسة السعريّة، فبالعدل تتحقق الفعالية. وخلصت الدراسة إلى توصية بتفعيل البرامج البحثية التي تتجه نحو السياسة السعرية، لتكون بجانب غيرها من السياسات الكلية

Suggested Citation

  • Mohammed Hassan Al-Zahrani, 2021. "Price Policy in Islamic Civilization Thought – A Formative Study السياسة السعريّة في الفكر الحضاريّ الإسلاميّ - دراسة تكوينية -," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 34(3), pages 29-54, October.
  • Handle: RePEc:abd:kauiea:v:34:y:2021:i:3:no:2:p:29-54
    DOI: 10.4197/Islec.34-3.2
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    Keywords

    Islamic economic thought; market and price apparatus the role of the state. الفكر الاقتصادي الإسلامي، التسعير، السوق، جهاز الأسعار، دور الدولة.;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • P49 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Other
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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