Prabowo Criticizes Neoliberal Economics: Wealth Trickle Down After 200 Years?

Prabowo Subianto, who is currently President of Indonesia and successor to President Joko Widodo, delivered a critical speech of neoliberal economic theory at the 27th anniversary of the National Awakening Party (PKB) on Wednesday. He refuted the belief that concentrating wealth at the top will eventually benefit the wider population, calling it a myth that has never been realized. Prabowo emphasized the importance of Article 33 of the Constitution, which he described as laying the foundation for safeguarding and ensuring the prosperity of the state and its people. He highlighted the true purpose of the state as providing safety, prosperity, and eradicating poverty and hunger among the population. Furthermore, he stressed the importance of democratic ideals but stated that they hold no value if citizens still face basic hardships. Prabowo referenced the Preamble of the 1945 Constitution to emphasize the economic spirit embodied in Article 33, which advocates for an economy based on mutual cooperation and familial solidarity rather than corporate conglomeration. He criticized neoliberalism for justifying inequality under the assumption that wealth will eventually trickle down to everyone, stating that this theory has yet to materialize after 200 years. Prabowo’s speech reinforced his vision of a people-centered economy, focusing on inclusive policies and rejecting models that perpetuate inequality.

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