Government Intervention in the Market According to Islamic Microeconomics: Between Market Freedom and the Public Good
DOI:
https://doi.org/10.65310/hdgfrp07Kata Kunci:
Al-Hisbah, Government Intervention, Islamic Microeconomics, Market Freedom, Public WelfareAbstrak
This study examines the legitimacy, conditions, and limitations of government intervention in market mechanisms according to Islamic microeconomics, emphasizing the balance between market freedom and public welfare. A descriptive qualitative approach based on library research was employed, using classical Islamic economic texts and scholarly literature examined through qualitative content analysis and conceptual synthesis. The analysis focused on market distortions, institutional supervision, selective price regulation, and distributive justice. The findings indicate that voluntary price formation remains the principal mechanism of market coordination, while government intervention becomes legitimate when identifiable distortions undermine transactional fairness and public welfare. Hoarding (ihtikar), deceptive transactions (tadlis), exploitative pricing, and abusive market power constitute potential grounds for proportionate corrective measures. The al-hisbah framework integrates preventive supervision, ethical accountability, transactional transparency, and regulatory enforcement. Selective price regulation (tas'ir) is justified when demonstrable market harm threatens equitable access to essential commodities and less restrictive measures are insufficient. The study distinguishes corrective market regulation from redistributive instruments addressing inequalities in purchasing power. It concludes that government intervention should remain conditional, transparent, and proportionate, preserving legitimate commercial incentives while protecting economic justice. These findings provide a conceptual foundation for evaluating Islamic market governance and essential-commodity regulation.
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Hak Cipta (c) 2026 Farid Mukhtar Zain, Sarpini Sarpini (Author)
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