Economic Theory of Production in Islamic Context

Abstract

This study explores the role of technology in Islamic production, emphasizing its potential to enhance productivity while adhering to Islamic ethical principles. The research highlights how technological advancements, such as digital platforms, blockchain, and artificial intelligence, can facilitate efficient production processes and promote social welfare in alignment with the goals of Maqasid al-Shariah. It underscores the importance of balancing profit generation with social responsibility, advocating for the responsible use of technology that prioritizes community welfare and environmental sustainability. The findings resonate with existing literature that emphasizes corporate social responsibility and ethical conduct within Islamic finance and production. By leveraging technology responsibly, Islamic production can achieve economic objectives while contributing to the greater good of society, fostering a more just and equitable economic system. Ultimately, this study posits that the integration of technology within the framework of Islamic ethics is crucial for addressing contemporary economic challenges and realizing the full potential of Islamic economics.