BOOK CONTENT Tripp (2006) presents a book titled: “Islam and the Moral Economy: the Challenge of Capitalism”. This book revealed that the development of sharia economic grows rapidly, depicting an evidence of a rejection of conventional capitalism. However, the growth is still hampered by the argument in the form of economic development of world’s capitalism that has rooted in the politic and economic structure. According to the contradictions, the author presents a framework of arguments to identify and investigate the actions of Islamic economic actors in order to anticipate, respond and act against the phenomenon. Furthermore, Tripp (2006) elaborates the Islamic economics’ responses to the economy of capitalism as follows. First, the capitalism is seen as a political act that serves as colonization of social and economic life. This viewpoint is then clearly referred as regime of capitalism based on individual property rights, which is functioned to generate profit through employment system. Second, capitalism itself has been focused primarily on the enterprise movement. This means that individual ownership becomes greater through the establishment of a production, finance, labor and other networks. The movement of this enterprise is referred as a fundamental trait of business process of capitalism. Third, the first and second concept creates capitalism as a system of economic life, the structures of the imaginative, the productive and the institutional. The imaginative means the economic role and human act in the orientation of rationality. The economic role and act always refer to higher economic profit, its cost. Concept related to the orientation of rationality is individual characteristic that refers to

the self-interest. The productive refers to the imaginative transformation of all the factors and the process of creating value added. The productive leads imaginative transformation to the high and satisfying economic growth. The entire system of social and economic life is referred to the high technology-based product’s innovation to achieve the disparity of production costs and profits. The institutional creates the imaginative and the productive into the high market competition, financial institutions, legal and regulatory system and state area. Tripp (2006) continues the arguments of the system of social and economic capitalism. Market is not only a place to exchange goods and services through the financial system, but also it becomes a supreme institution and a dominant metaphor of the entire social and economic transactions. The practical and system continue to the process of inhumanity. This is a phenomenon that exists and becomes an existential threat. Islamic economic responds the phenomenon to take a self-consciously moralizing position with the Islamic identity. Islamic economic responses the experience fear and turmoil as capitalism has rooted in the social community. The latter is proved by the existence of social cohesion and capital expansion, the high pressure on labor union, and the urge on calculating social utility. This evidence also urges the necessity of Islam to compete against capitalism. The competing action is in the form of the establishment of Islamic financial institutions and the concerns to the ethical issues as well as the principles and practices of Islam. Those facts become arguments which prove that the good life of Islam is able to arise in the middle of modernity of world capitalism.

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