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The Impact Of Halal At Thayyib And Consumption Ethics On Economic Growth: An Economic Tafsir Of Al-Baqarah 168

Author

Listed:
  • Taqiyah D. Insani

    (Universitas Airlangga)

  • Abdul W. Al-Faizin

    (Universitas Airlangga)

  • Muhammad N. H. Ryandono

    (Universitas Airlangga)

Abstract

Consumption that is a determinant variable of Indonesian economic growth often ignores the negative externalities of objects consumed. In addition, often the commands in the Qur’an have not been understood in depth in that the substance has not been successfully raised. This paper attempts to examine the concept of halal from surah al- Baqarah: 168 by using the tafsir method to analyze its impact on economic growth. The paper is a qualitative exploration using content analysis that combines tafsir bi al-ra’yiwith tafsir bi al-ma’thur. By using economic interpretation, this paper was able to further discuss consumption as one of the main pillars of Islamic economics, especially with regard to the five basic needs in the maqasid sharia. Three main aspects stated by Halal At Thayyib are the main condition of the object of consumption in Islam. First, the object does not contain illicit elements. Second, it contains benefits that have a positive impact. Third, it does not contain anything that is harmful to the body and mind. This study also found that in terms of macro consumption, Halal At Thayyib is able to improve quality economic growth by eliminating negative externalities.

Suggested Citation

  • Taqiyah D. Insani & Abdul W. Al-Faizin & Muhammad N. H. Ryandono, 2019. "The Impact Of Halal At Thayyib And Consumption Ethics On Economic Growth: An Economic Tafsir Of Al-Baqarah 168," Journal of Islamic Monetary Economics and Finance, Bank Indonesia, vol. 5(2), pages 459-474, July.
    • Handle: RePEc:idn:jimfjn:v:5:y:2019:i:2j:p:459-474
    DOI: https://doi.org/10.21098/jimf.v5i2.1071
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    More about this item

    Keywords

    Halal; Thayyib; Economic Tafsir; Economic Growth;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E71 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development

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