He used the term Serakahnomics to describe exploitative business strategies that are motivated solely by greed, saying they do not align with any economic school of thought taught in universities.
“These are no longer proper businesspeople. This is not business, this is not entrepreneurship. This is greed. This is not an economic school of thought; this is not taught in any faculty,” he said at the launch of the Red and White Village Co-operatives in Klaten district, Central Java, on Monday.
“Some may refer it to liberal, neoliberal, free-market, socialist, or command economies. This is different. I call it Serakahnomics. They do not deserve good treatment,” he added.
The President expressed regret that such business models still prevail, despite repeated warnings.
“I have given many warnings over the past several months. Please comply with the regulations and abide by the law,” he stressed.
He compared greedy businesses to parasites and vampires that drain the lifeblood of the people.
“Our people are still (struggling), yet some seek profit from their suffering. That is what I call bloodsucking. They are economic parasites, economic vampires,” he said.
President Prabowo said that if businesses follow the rules, Indonesia can record up to Rp100 trillion, or around US$6.1 billion, in revenue annually. With such funds, the government could improve a significantly higher number of schools across the country each year, he highlighted.
“This year, we are able to renovate 11 thousand schools with a budget of Rp19 trillion. If I had Rp100 trillion a year, we could renovate 100 thousand schools. (Currently), we have 330 thousand schools, in 3.5 years, we could repair them all,” he claimed.
President Prabowo then instructed Attorney General ST Burhanuddin and chief of the National Police, General Listyo Sigit Prabowo, to investigate and take action against business actors who violate laws and regulations.
“The attorney general and police chief, I trust you are loyal to the Indonesian people and to the sovereignty of our nation. Investigate! Let’s defend our people,” he added.
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Translator: Genta, Kenzu
Editor: Azis Kurmala
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