Information and Communication Technologies and Neoliberalism

Valente, Jonas C.L.

doi:10.1163/9789004466142_005

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“…Talking about the market and the structure of the competitive market is an interesting thing, especially when it is associated with the digital era and the Shariah economic perspective. The digital era is pinned on savings where the internet is a platform for the Industrial 4.0 era (Zafani and Arifqi, 2020), while the oligopoly market (several large suppliers) and monopolistic competition market (one supplier) are conventional (Hiç, 2020) has become an icon in the market structure of unfair competition (Ward, 2018;Valente, 2021). Meanwhile, a Sharia economy based on justice, equity and balance (Arfah et al 2020) become a perspective on behaviour in oligopoly markets and monopolistic competition in the digital era (Budi Setiawan and Rahmawati, 2020).…”

Section: Introductionmentioning

confidence: 99%

Oligopoly Market and Monopolistic Competition in the Digital Era: Shariah Economic Perspective

2023

QAS

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Imperfect competition markets, such as oligopolies and monopolies, are claimed to be unhealthy business activities because they contain elements of injustice, inequality, and imbalance that become irrational. In the current digital era, unhealthy competition is very possible to become big and profitable, although there are great opportunities for other newcomers to enter, due to lack of experience and human resources who are not necessarily competent and innovative, plus minimal capital, it is difficult to become competitors, let alone balance. As a result, concerns in the era of disruption with digital platforms regarding unfair competition through oligopolies and monopolies need to be watched out for. Shariah's economy that upholds the values of rationality, justice, equity, and balance rather than a free market is an important solution. Especially in the Industrial 4.0 era, which emphasizes the internet technology sector, it needs to be accompanied by the central role of human resources (Society 5.0), which upholds the four shariah economic values.

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Section: Introductionmentioning

confidence: 99%

Oligopoly Market and Monopolistic Competition in the Digital Era: Shariah Economic Perspective

2023

QAS

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Information and Communication Technologies and Neoliberalism

Cited by 1 publication

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Oligopoly Market and Monopolistic Competition in the Digital Era: Shariah Economic Perspective

Oligopoly Market and Monopolistic Competition in the Digital Era: Shariah Economic Perspective

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