Islamic Economics and Utility: Perspective of Muhammad Baqr Al-Sadr

Abstract

This research explores the integration of the concept of maximum consumption utility with the principles of equality and justice in Islamic economics according to Baqr al-Sadr's thought. It is found that al-Sadr advocates for a holistic approach to economics, where maximum consumption utility is not measured solely by individual material satisfaction, but also through fair distribution of wealth and fulfillment of basic needs for the entire society. This study highlights the importance of merging conventional economic principles with Islamic social justice values, aiming for inclusive well-being. Despite its significant potential, this approach faces challenges in its application in the modern world, demanding further research on the application of Islamic economic principles in a global context and how to overcome barriers in implementing justice and equality values in the current dominant economic systems. This study provides new insights into Islamic economics and paves the way for further research that will explore the adaptation of Islamic economic principles across various socio-economic contexts.