Satyagraha Economic: Ruining The Oligarchy Octopus to Realize the Wealth of Nations
The Oligarchy Octopus is a classic form of colonialism that continues to be modernized.
The 2018 Global Wealth Report released by Credit Suisse explains that the richest 1% of people in Indonesia control 46.6% of the population’s total wealth. Meanwhile, the richest 10% control 75.3% of the total wealth of the Indonesian population. One word for the face of the Indonesian economy is inequality. It needs to be fairer in accordance with the economic principles initiated when this nation was founded. There are no Pancasila values contained in it, only oligarchic values that continue to exploit the nation’s wealth.
Apart from that, Indonesia’s wealth is also controlled by foreigners. Every year, more than Rp. 1000 trillion of national wealth flows abroad. This condition is referred to as Net Outflow of National Wealth. In 2016, the Ministry of Finance revealed that more than Rp. 11,000 trillion of money belonging to Indonesian entrepreneurs and companies is stored abroad. This is a hazardous condition because if money continues to flow out, the national economy could collapse.
Since the beginning of the Indonesian nation’s, the founding fathers have developed big ideas for all aspects of life in the nation and state, including the economic aspect. Initiating Pancasila Economics as a principle in running the economy, with the main focus being the welfare of the people, is one of the big ideas that should be lived up to today. However, the fundamental values of the Pancasila economy are increasingly being degraded. Market capitalization is too strong and is even controlled by only a handful of people, strengthening the oligarchy octopus. If this system continues to run, the condition that will occur is that the rich will get richer, and the poor will get poorer.
Through Adam Smith, the concept of The Wealth of Nations emphasized that the wealth of a nation lies in the welfare of its people, not only in the value of assets such as money or gold but in the fulfillment of needs, comfort, and enjoyment of life. So, how can The Wealth of Nations be realized in the midst of an oligarchic octopus that is strangling small communities?
In fact, the Pancasila Economy initiated by the Founding Fathers is a strategic policy in realizing The Wealth of Nations. Mubyarto, an Indonesian economic expert, stated that essentially:
Pancasila Economics is a concept of economic policy that moves like a clock pendulum from left to right until it reaches a balance point. Going to the right means being free to follow market rules, while going to the left means experiencing state intervention in the form of central planning.
This means that Pancasila Economics extracts two big economic concepts: good values from capitalist and good values from socialism.
However, is this essential thinking enough to bring down the octopus of oligarchy and foreign domination? The answer is no. It should be noted that the roots of Pancasila Economics indeed stem from Gandhi’s great thoughts regarding Satyagraha Economics. The big concept is more or less the same, namely, realizing economic equality for the people.
However, one value has been forgotten, namely the value of Anti-Colonialism. This means that the economy that runs in a country is not only based on justice and equality but must also be independent of colonialists. In this context, invaders can come from any areas (internal or external). The oligarchic circle includes invaders from their own nation exploiting the nation’s wealth for profit.
The Satyagraha Economy will be a strategic concept in creating a collective mind for the nation and state. Moving the wheels of the economy based on Pancasila, coupled with the spirit of struggle with anti-colonialism, efforts can be made to overthrow the oligarchic octopus. In this way, this nation’s wealth and great potential can be adequately optimized, thereby realizing what Smith called The Wealth of Nations.
