This paper is written about that topic on which most scholars have not the similar views. So, it may be said that this topic presents some brief discussion about the dilemma of price control. Actually, prices of goods affect not only consumers but producers also. Similarly, prices of factors of production also affect the supply and demand of different factors of production. Therefore, stable prices of goods and services show stable circumstances of the economy and vice versa. Anyhow, in this article, types of price control, types of wage rate and some scholars’ views are presented in brief manner. But brief discussion does not mean that this does not have important aspects about price control. While discussing the price control, scholars’ views about price control are presented in favor of both sides, to producers and to consumers. Anyhow, price control is a mandatory policy for consumers and for the development of economy in fair dealings. Therefore, no section of society could feel oppressed by the other. In the end of discussion, some advantages and some disadvantages of price control policy are briefly discussed.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Price
- Concept of Just price
- Type of price (according to Islamic point of view)
- Halal price
- Haram price
- Price Control in Islam
- Price control policy
- Type of price control policy
- Price control in goods (Tasi'r -Fil-amwal)
- Price control in laborer (Tasi'r -Fil-Ammal)
- Price control in goods
- Price control of Laborers
- Types of Wage Rate
- a) Wages regarding time
- b) Wages regarding work
- 1st type of views about price control
- 2nd type of views about price control
- Advantages of price control
- Disadvantages of price control
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper explores the complexities of price control within an Islamic framework, aiming to offer a nuanced perspective on this topic. It aims to understand the Islamic principles governing pricing and the role of the state in regulating markets to achieve economic justice.
- The concept of just price in Islamic jurisprudence
- The Islamic view on price control and its rationale
- Types of price control and their application in goods and labor
- Advantages and disadvantages of price control policies
- The role of the state in ensuring economic fairness and preventing exploitation
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: Introduces the topic of price control and its significance in the context of Islamic economics.
- Price: Defines the term "price" and its various meanings, emphasizing the importance of a just price.
- Concept of Just Price: Discusses the concept of just price, emphasizing its importance in both goods and services, including wages.
- Type of price (according to Islamic point of view): Explains the Islamic categorization of prices based on the nature of goods, distinguishing between halal (permitted) and haram (prohibited) goods and their associated prices.
- Price Control in Islam: Examines the Islamic perspective on price control, acknowledging the free market principles within the framework of ensuring economic justice and community welfare.
- Price control policy: Explains the concept of price control policy and its justification for ensuring affordability and fairness in the market.
- Type of price control policy: Outlines the different types of price control policies, focusing on price control in goods and labor.
- Price control in goods: Discusses the implementation of price control in goods, emphasizing its purpose of preventing artificial price increases and ensuring fairness in transactions.
- Price control of Laborers: Explores the application of price control in labor, specifically addressing the concept of wages and their types.
- Types of Wage Rate: Discusses the different types of wage rates based on time and work, outlining various perspectives on their application.
- 1st type of views about price control: Presents the first set of opinions regarding price control, highlighting arguments for and against its implementation.
- 2nd type of views about price control: Presents the second set of opinions regarding price control, providing further insight into the diverse viewpoints on this topic.
- Advantages of price control: Examines the potential benefits of price control policies, including their impact on inflation, exchange, monopolistic profits, hoarding, and economic distribution.
Schlüsselwörter (Keywords)
This paper focuses on the Islamic principles of price control, examining the concepts of just price, halal and haram goods, the role of the state in regulating markets, and the potential benefits and drawbacks of price control policies. It explores different perspectives on price control, encompassing arguments for and against its implementation.
- Quote paper
- Tariq Mahmood (Author), 2009, Price Control System in Islam, Munich, GRIN Verlag, https://www.grin.com/document/375812
