Market Mechanism As Price Determinant (Analysis Thinking of Ibnu Taimiyah)

Ibnu Taimiyyah was a thinker and scholar of Islam who was born in Harran, on January 22, 1263 M (10 or 12 Rabiul Awwal 661 H). He came from a highly educated family. He is the first Muslim scholars which gives great attention to the market and the price mechanism. Ibnu Taimiyyah in the discussion of price often use two terms, namely 'iwad al-mithl (equivalent compensation) and thaman al-mithl (equivalent price ). In price regulation, Ibnu Taimiyyah propose two forms of regulation that is a fair and legal price regulation and regulatory unfair (unjust) and illegal price regulation. This fact certainly raises the question: how does the concept of price and price fixing by the government according to Ibnu Taimiyyah? This study is a library research. Based on the analysis of the data found that the economy policy (ijtihad) made by Ibnu Taimiyyah was the appropriate / suitable policy (ijtihad) with the state of society at that time, based on the Qur'an, the Hadith, and thought at that time. in terms of price concept Ibnu Taimiyyah more emphasis on a fair price means the value of the price of an item is acceptable and commensurate with the goods sold in certain place and time. Regarding the regulation of prices, Ibnu Taimiyyah emphasized that the price defined benefit to all. and prior toprice regulation should be the government held consultations with the representatives of the market and thepeople concerned. Graphically, according Ibnu Taimiyah price regulations aimed at protecting both parties and no one harmed