Implementation of Micro and Macroeconomic Islamic Principles in Addressing Economic Inequality in Modern Global Society

Abstract

Economic inequality is a central challenge in modern global society, characterized by disparities in the distribution of income and wealth between affluent and low-income groups. In many conventional economic systems, economic growth is often not accompanied by equitable welfare distribution, resulting in poverty, unemployment, and social injustice. This study aims to examine the implementation of Islamic economic principles at both the micro and macro levels in addressing economic inequality. The research employs a qualitative approach using a library research design (literature study), focusing on the analysis of secondary data obtained from scholarly journals, books, academic articles, and reputable publications related to Islamic economics. Data were collected through documentation techniques by gathering, reviewing, and interpreting relevant literature, and were analyzed using descriptive-analytical methods. The findings indicate that, at the micro level, Islamic economics emphasizes economic behavior grounded in ethics, such as honesty, justice, moderation in consumption, and the prohibition of riba, which encourage fair and transparent economic activities. Meanwhile, at the macro level, instruments such as zakat, infak, sedekah, and waqf (wakaf), along with Islamic fiscal and financial policies, contribute to wealth redistribution, poverty alleviation, and the enhancement of social welfare. The synergy between these micro- and macro-level aspects can establish a more just, stable, and sustainable economic system. Accordingly, Islamic economics has substantial potential as a strategic solution to economic inequality in modern global society.