'Ekonomi Kerakyatan', 'Ekonomi Pro-Rakyat'; what was that again?

Disclaimer: Just an argumentative prose from a struggling Kenkyuusei, with no means to offend certain someones or certain things.

Presidential election is crawling nearer, and media recently is just too overwhelmed by a bandwagon war; between Neo-liberalism and State-owned based Economy or 'Ekonomi Kerakyatan' (pardon the mismatch, as i couldnt find any better translation).

So what was this 'Ekonomi Pro Rakyat' or 'Ekonomi Kerakyatan' again?

If 'Ekonomi Pro Rakyat' is meant to give a total liberty for a state-owned enterprise to run a business for the sake of topping the economic welfare, total nationalization of the economy will leave a limited role for private saving, and imply a serious restrictions on private economic activity.

This will consequently result in huge structural distortion, remarked by the presence of monopolization, olygarchy system, economic autarchy and centralized investment decision. The economy will strongly be exposed to domestic-oriented market, sooner or later be separated from other market by international currency inconvertability, trade restrictions and moreover, encourage state monopoly in foreign trade.

The burden of social spending in the name of fair wealth distribution will be astronomically high, relative to the level of economic development. Government should offset the big expenditure mainly by domestic production, as foreign trade is being restricted. On the latter part, the state's budget deficit will be very large, and government will employ monetary expansion to cover the deficit, mainly by increasing money supply which will lead to an increase in inflation. Well, my dear, this is again, the prelude of a crisis!

This -infact- was what happened to Russia pre-Perestroika years.

So are we going to re-employ plausible system that is already proven to be wrong? :)

I believe that Indonesians are smart enough on not to make a wrong move again; to be trapped in a misleading jargon called the 'Ekonomi Kerakyatan' or 'Ekonomi Pro-Rakyat'.

Open Letter From A Hardcore Boediono Fan

For those pompous opportunists who accused Boediono with the stupid jargon called 'Neo-liberalism', I would like to ask Thou the following:

1) Indonesia's foreign debt management's history since its first time de-regulation economic policy in 1971
2) Indonesia's trade balance performance eversince
3) Indonesia's composition of current account deficit since the financial liberalization in 1983
4) Indonesia's sound monetary and fiscal policy prior to Asian Financial Crisis in 1997
5) How would you define crony capitalism (in fact this is the main culprit of the massive external debt phenomenon)
6) Outline of Indonesia's Letter of Intent to IMF by Mar'ie Mohammad in 1997

If thou could answer the above without citing textbooks or wikipedia, and made a great presentation over them, I will whole-heartedly respect thou and re-think my stance for Mr Boediono (lies)

Yours Sincerely,

Evidence

What do you need, in order to prove that you are more capable than others?

I would say, credentials....

As a strong believer of meritocracy, I won't admit a person to have a native level of English unless he could bring a perfect TOEFL/IELTS score as an evidence; to be capable of reading 1000 kanjis, unless he could bring a JLPT level 2 certificate; to have an expert level of monetary economics unless he graduated with Masters/Doctorate level in Economics.

Having said that, If I were to choose a leader, I will choose those with accountable credentials, such as good track records or outstanding achievements in their fields. I would choose those who are proven to be better than I am. Show me your resume, prove it, and there you have my respects :).

And as long as I am still sane, I won't admit under-achieved leader candidates with no academic credentials. I am a scholar, and I won't chose any leader with no scholastic ability! How come you believe on someone with less capability than you are -using a credential as an indicator.

There are so many intellegent people being a Public Relation for that mentioned candidate, and I couldnt help but to think that they made a stupid move. I would say it is like a college student choosing a secondary school student to be a president for their Student Union.

Isnt it stupid?

I guess Indonesia's political situation is hard to fit the common sense though. I hope it's really a common sense, and not just my self-proclaimed-know-it-all-sense.