From Profit Maximization to Maslahah Maximization: A Philosophical Reconstruction of Production and Consumption in Islamic Economics
DOI:
https://doi.org/10.15575/jis.v6i4.57180Keywords:
maqasid shari'ah, maslahah maximization, Sharia economics, Sharia consumption, Sharia production, sustainable developmentAbstract
The dominance of the conventional economic paradigm—oriented toward profit and utility maximization—has given rise to various global issues, such as income inequality, the exploitation of natural resources, and rising consumerism. These conditions create a need for an alternative economic paradigm capable of balancing economic, ethical, and sustainability dimensions. Islamic economics offers a distinct conceptual framework centered on maximizing maslahah (public interest/well-being), grounded in the principles of tawhid (divine unity), justice, and maqāṣid al-sharī‘ah (the higher objectives of Sharia). This study aims to reconstruct the philosophical foundations of production and consumption in Islamic economics by examining the paradigm shift from a profit-oriented approach to one focused on maslahah. Employing a qualitative approach via a literature review, the study analyzes relevant national and international scholarly publications—particularly reputable works addressing Islamic economics, maqāṣid al-sharī‘ah, ethical consumption, and sustainable development. Data analysis was conducted through content analysis and the conceptual synthesis of various theoretical perspectives. The findings indicate that production in Islamic economics aims not merely to generate economic profit but also to achieve maslahah through the application of principles such as halal (permissibility), tayyib (wholesomeness), justice, social responsibility, and environmental sustainability. Meanwhile, consumption in Islamic economics is understood not solely as a means to satisfy individual desires, but as a pathway to achieving falāḥ (well-being in this world and the Hereafter) through the principles of moderation (wasatiyyah), the prohibition of isrāf (extravagance), and the strengthening of social solidarity. Integrating production and consumption within the maqāṣid al-syarī‘ah framework creates a value-based economic system capable of balancing individual and social interests. This study affirms that the maslahah maximization paradigm is highly relevant to addressing contemporary economic challenges, particularly regarding distributive justice, sustainable development, and holistic societal well-being. Therefore, the sharia economy can be positioned as an alternative paradigm offering a more equitable, inclusive, and sustainable model of economic development.
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