ECONOMIC MODERATION BUILDING MODERATION REASONING IN ECONOMIC ACTIVITIES

Abstract

This research aims to integrate the aspect of wasatiyyah in economics. Islamic wasatiyyah is a religious concept that is highly relevant in every dimension of life, including the economic dimension. In the context of economics, wasatiyyah plays a significant role because through its application, it can build economic activities based on inclusive Islamic values and in favor of justice, thus positively impacting societal welfare. This research brings novelty in the form of wasatiyyah Iqtishadiyah as an effort towards economic justice, which has not been previously explored by researchers.

The research findings indicate that Religious moderation is a highly important principle in economics inspired by the Islamic conception of Wasatiyyah. In this context, economic moderation refers to a balanced approach between the worldly and spiritual dimensions, a balance between the divine and human dimensions, a balance between worship and transactions, and a balance between religious dimensions and the economic needs of society. The implementation of Wasatiyyah Iqtishadiyah values will help create an economic system that is fair, transparent, and promotes social justice.

The conclusion of this research is that the concept of wasatiyyah is not something new, but rather it is born alongside the teachings of Islam itself. In Islam, the principle of wasatiyyah resides at the core of every aspect of Islamic teachings, whether in the realm of belief, law, spirituality, or transactions. The concept of wasatiyyah also exists in religious, social, political, and economic affairs. In economic activities, there are several fundamental values of wasatiyyah, including the balance between the worldly and the hereafter, the balance between worship and transactions, the balance between the divine and human dimensions, and the balance in meeting needs.