Al-`Amaydah, Muhammad Oudah. “Pricing and Prices in the Fiqh of Shaykh al-Islām Ibn Taymiyyah,” Year 6, Issue 22 (Fall 1421 AH/ 2000 CE), Pp. 63-100.

Abstract

Muhammad Oudah al-‘Amaydah’s article discusses the theory of value, market forces, pricing, and like-price. In the theory of value, he discusses the theories of the expense of production and marginal utility, and then discusses the Marshall theory. On market forces, he cites the thought of Ibn Taymiyyah on the causes of price rise and fall, and the role of demand in determining price levels. He discusses the views of scholars in pricing before presenting the cases in which Ibn Taymiyyah authorized the intervention of authorities, including monopoly, restrictions, complicity of vendors, refusal of traders of necessary commodities to sell, and wars and disasters. He also addresses Ibn Taymiyyah’s thought on like-price, its justifications and effects that are taken into consideration when like-price is fixed.