💡 Dr. Denis Suarsana, Director of KAS for Indonesia, and Dr. Handi Risza, Vice Rector of Paramadina University, emphasized the urgency of evaluating practices and formulating policies to implement Pancasila Economics to strengthen the economic system initiated by the founders of the Republic of Indonesia. “Pancasila must become a living value that can be implemented in every aspect of national life,” Handi explained.
💡 The discussion, moderated by senior economist Dr. Arief Budimanta over two full days, began with a presentation by Agus Wahyudi, Ph.D., Head of the Pancasila Study Center (PSP) at Gajah Mada University, who spoke about the philosophical foundations of Pancasila Economics and the background of the idea. “Pancasila Economics has strong roots and philosophy in Indonesian society,”Agus stated.
💡 The discussion also featured Prof. Markus Martanner, Ph.D., from Kennesaw State University, USA, who presented the concept and implementation of the Social Ecological Market Economy (SEME) practiced in Germany, a concept with many intersections with Pancasila Economics. According to Prof. Dr. Didin Damanhuri, Pancasila Economics is a unique Indonesian economic model that must be approached with structural historical analysis, considering how colonial structural inequalities have shaped Indonesia’s current economic structure.
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💡 Paramadina University economist Wijayato Samirin, MPP, encouraged the continuous enrichment and grounding of the Pancasila Economics concept to make it more contextual and relevant. Economist Prof. Dr. Erani Yustika from Brawijaya University stated, “Pancasila Economics is a growing idea that needs continuous refinement.” Implementing Pancasila Economics must be integrative from the macro, meso, and micro levels.
💡 Senior economist Umar Juoro, M.A., emphasized that the important goal of this study is its practical application in regulations and institutions. Meanwhile, Prof. Dr. Edy Suandi Hamid, Rector of Widya Mataram University, suggested that Pancasila Economics could be developed and scaled up in community economic practices.
💡 Dr. Revrisond Baswir, an economist from Gajah Mada University, stated that Pancasila Economics is an economic system based on the unity of Pancasila values and principles, with structures and processes that place the people’s sovereignty as the economic controller. Senior economist and Indef co-founder Dr. Fadhil Hasan revealed that Pancasila Economics, as an economic system, must provide alternatives in national fiscal and monetary policies.
