Building a Just Economy According to the Thought of Muhammad Baqir al-Sadr

Modern economic development has brought much progress, but also problems such as social inequality, poverty, and the uneven distribution of wealth. Amidst these conditions, Islamic economic thought offers a different perspective on economic activity. One figure who made a significant contribution to the development of Islamic economics is Muhammad Baqir al-Sadr, through his ideas on economic justice and the role of the state in creating public welfare.

According to Muhammad Baqir al-Sadr, economic problems are not solely caused by limited resources, but by the way humans manage and distribute those resources. He considered the unjust distribution of wealth to be the main cause of poverty and social inequality. Therefore, an economic system must not only be oriented towards economic growth but must also guarantee the equitable distribution of welfare.

I believe this thinking remains highly relevant to Indonesia’s current conditions. Although the economy continues to develop, income inequality between societal groups persists. A small portion of society controls a large amount of assets and wealth, while others still struggle to meet their basic needs. This shows that economic growth is not necessarily followed by an equal distribution of the benefits of development.

Baqir al-Sadr also stressed the importance of the state’s role in maintaining economic justice. The state must not merely be a market supervisor but must be present through policies that protect the public, oversee harmful economic practices, and ensure that wealth distribution occurs fairly. In my view, this idea is crucial because without proper oversight, market mechanisms can create monopolies, exploitation, and greater inequality.

Furthermore, Baqir al-Sadr rejected the practice of riba (usury) as it is considered to create injustice in economic relations. As an alternative, he offered a financial system based on the principle of profit-sharing, where profits and risks are borne jointly by the parties involved. I believe this concept reflects the value of justice because no party gains unilaterally. The profit-sharing concept also encourages healthier cooperation between capital owners and business actors.

In contemporary life, al-Sadr’s thinking can be applied through strengthening Islamic financial institutions, increasing Islamic economic literacy, and professionally managing zakat, infaq, sadaqah, and waqf. These instruments can be a solution to reduce poverty while improving public welfare if managed effectively and transparently.

In my opinion, the greatest strength of Muhammad Baqir al-Sadr’s thought is its ability to combine Islamic values with the needs of a modern economy. He not only criticised the existing economic system but also offered a concept that places justice, responsibility, and shared welfare as its main goals. These values are much needed amidst global economic developments that often prioritise profit over social interests.

In conclusion, Muhammad Baqir al-Sadr’s thought teaches that the success of an economic system is not only measured by high economic growth, but also by the extent to which the system is able to create justice and welfare for all people. Therefore, the concepts he offered remain worthy of reference in building a more just, inclusive, and humanistic Indonesian economic system.