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Price Control in an Islamic Economy التسعير في اقتصاد إسلامي

Author

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  • MUHAMMAD LAWAL AHMAD BASHAR

    (Senior Lecturer Department of Economics Usmanu Danfodiyo University Sokoto, Nigeria)

Abstract

The subject of price control in an Islamic economy dated to early seventh century (AD). It was later critically addressed and developed by the Islamic jurists between eleventh and sixteenth centuries. The paper reviews this development using arguments advanced by four major schools of Islamic jurisprudence and other legal experts. It explores those circumstances under which price control becomes permissible and/or necessary in an Islamic economy. A critical appraisal of selective cases of price control in economic theory is made. The paper, then, condenses and codifies juristic positions on market prices to provide a theoretical framework for the study of price regulation in Islamic economics. بدأ النظر في موضوع التسعير في الاقتصاد الإسلامي في أوائل القرن السابع الميلادي وعالجه الفقهاء بالتحليل والدراسة بين القرن الحادي عشر والقرن السادس عشر. ويستعرض هذا البحث التطورات في هذا الموضوع من خلال أدلة المذاهب الأربعة في الفقه الإسلامي، كما يدرس آراء عدد من الفقهاء ويبحث عن الأوضاع التي تبرر أو توجب التسعير في اقتصاد إسلامي، ويمحص بعض حالات التسعير في النظرية الاقتصادية التقليدية. ويلخص البحث مواقف الفقهاء وآراءهم حول أسعار السوق فيقدم بذلك إطاراً نظرياً لدراسة إدارة الأسعار في الاقتصاد الإسلامي.

Suggested Citation

  • Muhammad Lawal Ahmad Bashar, 1997. "Price Control in an Islamic Economy التسعير في اقتصاد إسلامي," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 9(1), pages 29-52, January.
    • Handle: RePEc:abd:kauiea:v:9:y:1997:i:1:no:2:p:29-52
    DOI: 10.4197/islec.9-1.2
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    References listed on IDEAS

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    5. Faulhaber, Gerald R, 1975. "Cross-Subsidization: Pricing in Public Enterprises," American Economic Review, American Economic Association, vol. 65(5), pages 966-977, December.
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    Cited by:

    1. Prof. Dr Sharifah Mariam Alhabshi, 2013. "Halal Food Dilemmas: Case of Muslims in British Columbia, Canada," International Journal of Asian Social Science, Asian Economic and Social Society, vol. 3(4), pages 847-870, April.

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