President Prabowo Subianto recently delivered a critical speech at the 27th anniversary of the National Awakening Party (PKB) in which he denounced the concept of neoliberal economic theory. He argued that the belief in the trickle-down effect, where wealth concentrated at the top will eventually benefit the wider population, is nothing but a myth that has never materialized. Prabowo emphasized the importance of Article 33 of the Indonesian Constitution, stating that the true purpose of the state is to ensure the well-being and prosperity of its people. He highlighted that democracy is meaningless if citizens continue to face basic hardships like poverty, hunger, and unemployment. Prabowo further pointed out that Indonesia’s economy should be based on principles of mutual cooperation and familial solidarity, as outlined in Article 33 of the Constitution, rather than corporate conglomeration. He firmly rejected the neoliberal idea that allowing a few people to become very rich will ultimately benefit everyone, arguing that the trickle-down effect has yet to materialize even after 200 years. Prabowo’s speech reiterated his commitment to a people-centered economy that serves all citizens, not just the elite, and his rejection of economic models that perpetuate inequality.
Prabowo Criticizes Neoliberal Economics: No Trickle Down in 200 Years
