Reduction of Time and Costs in Globalization: An Analysis of a Hadith on Market and Time Convergence

Abstract

This research aims to analyse a hadith of al-fitan and ashrat al-sa‘ah, which describes the phenomena of market and time convergence. Globalization has driven market and time convergence across various industries and activities, resulting in reduced time and costs—one of the positive impacts of globalization. However, these phenomena may also lead individuals to encounter negative elements due to the rapid pace of globalization. This paper primarily focuses on the analysis of the hadith and its positive implications, offering guidance for Muslims navigating this fast-paced environment as directed by the Quran and Sunnah. Employing a qualitative research design with a content analysis approach, data were thematically examined using descriptive and analytical techniques. The findings underscore the Prophet's (PBUH) reference to market and time convergence as the signs preceding the Hour. Consequently, this study establishes that market and time convergence in the era of globalization is an inevitable and impactful phenomenon.