2021, Research Grant
Abstract
The advancement and increasing usage of digital technologies due to evolution in industrial revolution 4.0 affected economic well-being of society especially smallholder farmers in palm oil industry. Furthermore, the occurrence of COVID-19 has significantly reordered the world of work, consumption, sociability, and governance. Huge dependency on migrant workers, low-skilled workers, and lack of knowledge caused smallholders facing financial hardship because of increasing cost of living, expose to poverty, social discrimination, and inequality subsequently unable to achieve economic well-being. Therefore, education, skills and knowledge are important aspects of economic well-being. Besides, spiritual dimension is also important for economic well-being. This research aims to develop a new Maqasid-based Integrated Economic Well-being Model that is a holistic and inclusive concept of development that integrates the material, intellectual and spiritual dimensions of human beings. Maqasid-Shariah is a promising alternative for enhancing human development and well-being due to its consideration for individual and societal well-being. Maqasid-Shariah consists of five components which are preservation of religion, life, intellect, wealth, and progeny. This model provides comprehensive and appropriate measurement of economic well-being of smallholders in palm oil industry to the Malaysian Palm Oil Board (MPOB). To achieve the objectives of this study, we conducted a focus group discussion involving participants of smallholders in Selangor before selecting the related component in the dimension in building the model. The main output will be a model that is able to address the knowledge gap on the existing economic well-being model. It further contributes towards an economic well-being model for smallholders of palm oil industry in facing IR 4.0. Such understanding is expected to support the development and quality of life of smallholders over the long term.