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Pancasila economics (Indonesian: Ekonomi Pancasila), also known as "Indonesian populist economics" (Indonesian: Ekonomi kerakyatan Indonesia), is an economic system which aims to reflect the five principles of Pancasila. [1] The term "Pancasila economy" first appeared in an article by Emil Salim in 1967. [2]
Azyumardi Azra CBE (4 March 1955 – 18 September 2022) [1] was an Indonesian public intellectual, Muslim scholar and Rector of Syarif Hidayatullah State Islamic University Jakarta.
Masudul Alam Choudhury was born in Calcutta, India on January 1, 1948. [3] He attended the universities of Dhaka, Islamabad, and Toronto for his advanced education in mathematics and economics, earning a PhD from the University of Toronto in 1977.
The ideal of Pancasila has not effectively translated into a functioning liberal democracy in Indonesia. Instead, Pancasila has become a symbol of Indonesian exceptionalism, embodying the nation's values and identity. Pancasila is open to abuse, which in this case was the invitation to criminalise all kinds of ideologies but Pancasila itself.
Muhammadiyah follows the Athari school of Sunni Islam, accepting only taking naqli (scripturalist) and rejecting all aqli (rationalist) tendencies.It emphasizes the authority of the Qur'an and the Hadiths as supreme Islamic law that serves as the legitimate basis of the interpretation of religious belief and practices.
Nasakom (Indonesian: Nasionalisme, Agama, Komunisme), which stands for nationalism, religion and communism, was a political concept coined by President Sukarno.This concept prevailed in Indonesia from 1959 during the Guided Democracy Era until the New Order, in 1966.
In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a mutual perspective on the way economies function. While economists do not always fit within particular schools, particularly in the modern era, classifying economists into schools of thought is common.
Soekarmadji Maridjan Kartosuwiryo (7 January 1905 – 5 September 1962) was an Indonesian Islamic mystic who led the Darul Islam rebellion against the Indonesian government from 1949 to 1962, intending to overthrow the secular Pancasila ideology and establish Negara Islam Indonesia (Islamic State of Indonesia) based on sharia law.