MARKET FAIRNESS IN ISLAMIC ECONOMICS LAW AND ETHICS: A Study on Modern and Traditional Market Regulations in Indonesia
Abstract: This study has been
motivated by unfair market conditions in the form ofmarginalization of
traditional markets in Indonesia due to unequal competition with the modern
market. This article tries to find a fair legal formulation to maintain theexistence
of a small market (traditional). To find the legal formulation, the authorattempts
to discuss market regulation in Indonesian legislation, analyzed and found it to
be optimized to create a fair market arrangements in the perspective of Islamic
law.This study propose a paradigm that the market functions not only as an
business institution but also as religious and social institutions based on
brotherhood which requires mutual respect and responsibility. There are
prescriptive law to maintain the existence of traditional markets in Indonesia,
which optimizes the concept of ownershipas a form of common ownership and
optimize the regulation of cooperation between the traditional and the modern
market economy based on the doctrine of Islamic law.
Author: Mustapa Khamal Rokan
Journal Code: jpperadabanislamgg150004
