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

Abstract

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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“…To characterise the market form by the number of participants, the scheme for determining market forms was used and the seed certification services market was classified as an oligopoly with many consumers (452) and several (5) service providers (Aziz et al, 2023). This market is a restricted market, as service providers need to be accredited by the national authority of Ukraine and obtain the authority to carry out conformity assessment activities in the field of seed production, and customers need to be included in the Register of seed and planting material certificates (Registry of seed and planting material certificates, 2023).…”

Political Opposition in Islamic Political Perspective

“…Indonesia is taken as an object of a research study because it is a democratic country with the largest Muslim community in the world. The use of systematic literature review methods (Aziz et al, 2023)of national, international journals and books is considered relevant to discuss in depth the study of opposition politics in this Islamic political perspective (Tranfield et al, 2003). The literature review method tries to understand the political context of opposition in Indonesia by analyzing journals or books that discuss opposition politics and Islamic politics.…”

Development and Dynamics of State Administration in Indonesia: The Struggle of the Discourse of the “State” Administration vis a vis the “Public” Administration

“…Public is everything related to the wider community and the interests of the crowd (Nuraini, 2020). Public can mean the state along with its authorities and equipment, civil society organizations, private organizations (Saglie & Sivesind, 2018), educational organizations (Pratomo, 2022), religious organizations (Aziz et al, 2023), even the smallest organizations such as the neighborhood unit (RT) even though it is a manifestation of the public. So it is wrong if there is an opinion that states that the public is only the state, outside the state is not public.…”