Monopoly Prohibition According to Islamic Law: A Law and Economics Approach  

Oleh:

Johan, Arvie

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Mimbar Hukum vol. 27 no. 1 (Feb. 2015), page 166-178.
Topik: monopoly; islamic law; law and economics
Fulltext: 521-863_her.pdf (457.62KB)

Isi artikel

Islamic law prohibits monopoly. The issue had arose since the advent of Islam, whereby it’s used as a strategy to maximize profit, has experienced rapid developments. This article assess the extent of Islamic law in prohibiting monopoly using law and economics approach. The result is that the exercise of caution shall apply in prohibiting monopoly. There are three steps needed in exercising the rule of caution: (1) defining monopoly as the absence of competition and lack of pricing options; (2) providing criteria of what causes monopoly in form of agreements between business competitors who can go against allocative efficiency effectively; and (3) direct the prohibition on monopoly towards agreement on explicit horizontal mergers and very large horizontal mergers which disregards quick mergers.

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