President Prabowo vs. “Greednomics”

In his State of the Nation Address before the MPR/DPR (15 August 2025), President Prabowo Subianto introduced a term that quickly drew attention: “Greednomics.”

Derived from greed (serakah) and economics, it refers to an economy where a small elite monopolizes resources and markets for their own gain, often at the expense of the majority.

This wasn’t the first time he raised the issue. At PKB’s 27th anniversary (23 July 2025), he had already criticized entrenched patterns where corporations and individuals dominate vital sectors. By placing it in his state address, Prabowo framed Greednomics as a structural challenge his government must confront.

What Does Greednomics Look Like?

It is not abstract, it’s felt daily:

• Food prices rising beyond logic
• Shortages in rice, corn, or cooking oil
• Speculation and market manipulation

A few profit enormously, while millions bear the consequences.

The Data Behind the Term

BPS (2022): Only 0.1% of Indonesians own wealth above US$1 million, controlling a disproportionate share of assets.

Credit Suisse (2021): Indonesia’s millionaire population rose 62% in a single year, during the pandemic, when most households struggled.

Inequality doesn’t just persist in crises; it accelerates.

A Warning to the Elite

Prabowo describes the ultra-wealthy as “unrelenting” and unwilling to learn from warnings. His message is clear: the era of unchecked greed must end.

Indonesia’s natural wealth is vast, but he argues it is undermined by “maling”, those who exploit loopholes, hoard resources, and concentrate power.

What’s at Stake?

If Indonesia can curb Greednomics, the impact could be transformative:

1. Greater equity – resources no longer monopolized.
2. Market stability – reduced price shocks on essentials.
3. Wider opportunity – wealth distribution fuels participation.

But entrenched interests won’t be easy to confront. Reform requires political will, strong policy, and consistent enforcement.

The Bigger Question

Prabowo has given a name to the frustrations of many Indonesians. Yet beyond the rhetoric lies a crucial test:

Can Indonesia break free from Greednomics and build an economy that works for the many, not just the few?

For business leaders, policymakers, and professionals, this is more than political jargon, it’s a call to shape an economy that is fair, sustainable, and inclusive.