SEJARAH PERADABAN DAN PEMIKIRAN EKONOMI (BISNIS) PERIODE DUA (AL-GHAZALI 451-505 H/1055-1111 M DAN IBNU TAIMIYAH 661-728 H/1263-1328 M)

Abstract

Abstract: This paper focuses on two great Islamic figures in Period Two, namely Imam Al-Ghazali and Ibnu Taimiyah, who made significant contributions to the economic and business systems and activities. Background: The second period of Islamic economic thought, marked by great philosophers and scholars, systematically formulated economic concepts integrated with moral and Sharia values. Purpose of the study: This paper aims to specifically and deeply examine the economic systems and activities formulated by Al-Ghazali and Ibnu Taimiyah, and their relevance to contemporary business practices. Method: The study analyzes the thoughts of Al-Ghazali (focusing on Maslahah, exchange, production, money evolution, and market ethics) and Ibnu Taimiyah (focusing on price mechanism, anti-monopoly, transaction classification, and monetary policy). Result: Al-Ghazali viewed economic activity as a social obligation (Fardhu Kifayah) founded on the concept of Maslahah, emphasizing ethical markets and condemning usury (riba) and hoarding.Conclusions: Both figures provide a fundamental basis for Islamic economics, emphasizing justice, public welfare (maslahah), and morality, which remain highly relevant today.

Keywords: Islamic Economics, Al-Ghazali, Ibn Taimiyah, Maslahah, Market Mechanism.