Pancasila Economy: Forgotten Dream or Weapon Against Inequality?
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Published:
Mar 30, 2025
Keywords:
Economic justice, Empowerment, Micro enterprises, Pancasila economy, Sustainability
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Abstract
Purpose: This study explores various strategies that enable the integration of Pancasila values into the country's economic system, particularly in efforts to empower the people's economy and reduce dependence on significant capital.
Study Design/Methodology/Approach: This study utilises library research to explore and integrate existing theoretical perspectives, both from classical and contemporary literature, with integrative and connective analysis across various literature so that it does not merely present separate theoretical perspectives.
Findings: The Pancasila economy can serve as a national strategic plan to undermine the dominance of exploitative capitalism by introducing a new development paradigm based on social justice, economic sovereignty, and ecological sustainability. It can also function as a socio-economic engineering instrument that strengthens social cohesion, reinforces state legitimacy, and paves the way for Indonesia to emerge as a pioneer of alternative paradigms on the international stage. The economy can also provide creativity for other developing countries in regulating a more humanistic, inclusive, and equitable world economy.
Originality/Value: The Pancasila economy not only strengthens the nation's independence and competitiveness through the management of resources that favour the people, the empowerment of MSMEs, and the fair redistribution of assets, but also presents a global alternative that challenges the paradigm of exploitative capitalism by placing social solidarity, cooperation, and ecological sustainability as the main foundations of economic development.
Article Details
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Suud Sarim Karimullah, Muammar Akbar Al Qhuraissy, M. A. A. Q., Feri Irawan, Bambang Sunatar, B. S., & Anugrah Bagus Sugiharto, A. B. S. (2025). Pancasila Economy: Forgotten Dream or Weapon Against Inequality?. Jurnal Lemhannas RI, 13(1), 103-117. https://doi.org/10.55960/jlri.v13i1.1023
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References
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Bukido, R., Muslihin, M. A., & Karimullah, S. S. (2025). Family Economic Empowerment Strategies in Gangga II Village: A Maqashid Shariah Perspective. Al-Mujtahid: Journal of Islamic Family Law, 5(1), 1–12. https://doi.org/10.30984/ajifl.v5i1.3438
Febriani, S., Nevi, F., & Asbari, M. (2022). Pancasila as a Paradigm in Indonesia’s People’s Economic Develompment. Journal of Information Systems and Management (JISMA), 1(3), 1–5. https://doi.org/10.4444/jisma.v1i3.61
Fitriyanti, E., Wulandari, A., Fahria, I., & Karimullah, S. S. (2025). Analysis of the Lerner Index of the Halal Food Industry in Bangka Belitung from the Perspective of Ibn Khaldun’s Price Concept. ASY SYAR’IYYAH: JURNAL ILMU SYARI’AH DAN PERBANKAN ISLAM, 10(1), 1–23. https://doi.org/10.32923/asy.v10i1.5101
Haerunnisa, H., Sugitanata, A., & Karimullah, S. S. (2023). Analisis Strukturalisme Terhadap Peran Katalisator Instrumen Keuangan Syariah dalam Mendorong Pembangunan Berkelanjutan dan Tanggung Jawab Sosial.
Al-’Aqdu: Journal of Islamic Economics Law, 3(2), 124–134. https://doi.org/10.30984/ajiel.v3i2.2853
Harun, H., Van-Peursem, K., & Eggleton, I. R. C. (2015). Indonesian public sector accounting reforms: dialogic aspirations a step too far? Accounting, Auditing & Accountability Journal, 28(5), 706–738. https://doi.org/10.1108/AAAJ-12-2012-1182
Insani, N., Ibrahim, Z. S., Karimullah, S. S., Gönan, Y., & Sulastri, S. (2024). Empowering Muslim Women: Bridging Islamic Law and Human Rights with Islamic Economics. De Jure: Jurnal Hukum Dan Syar’iah, 16(1), 88–117. https://doi.org/10.18860/j-fsh.v16i1.26159
Karimi, S. (2024). Sistem Ekonomi Pancasila, Keadilan Sosial, dan Neoliberalisme Global. 4(1), 1–10. https://doi.org/10.52738/pjk.v4iX.526
Karimullah, S. S. (2022). Moral Values Internalization of Pancasila in the Education System: A Response to the Problems of Radicalism. Technical and Vocational Education International Journal (TAVEIJ), 2(01), 32–38.
Karimullah, S. S. (2023). Actualization of Pancasila As an Integrative Paradigm in Forming Imagination and Creativity. Pancasila: Jurnal Keindonesiaan, 3(1), 11–21. https://doi.org/10.52738/pjk.v3i1.141
Karimullah, S. S. (2024). Analysis of the Influence of Political Power on the Implementation of the Islamic Economic System. Jurnal Ekonomi Syariah, Akuntansi Dan Perbankan (JESKaPe), 8(2), 179–209. https://doi.org/10.52490/jeskape.v8i2.4714
Kian, L., Purwanti, A., & Sabri, M. (2021). Internalisasi dan Instansionalisasi Kebijakan Ekonomi Pancasila. Pancasila: Jurnal Keindonesiaan, 1(1), 45–56. https://doi.org/10.52738/pjk.v1i1.23
Kim, H. S. (2017). Patterns of economic development: correlations affecting economic growth and quality of life in 222 countries. Politics & Policy, 45(1), 83–104. https://doi.org/10.1111/polp.12190
Meliala, A. J., & Woods, J. A. (2022). The History of Indonesian Economic Law. International Conference on Law Studies (INCOLS 2022), 219–236. Atlantis Press. https://doi.org/10.2991/978-2-494069-23-7_21
Moldicz, C. (2025). Key Dilemmas of Indonesia’s Development. In Indonesia’s Economy After Joko Widodo: Economic Growth and Transformation (pp. 151–171). Springer. https://doi.org/10.1007/978-3-031-87120-7_7
Mubyarto, M. (1999). Sistem dan politik ekonomi berjiwa kenyataan. Economic Journal of Emerging Markets, 4(2), 121–125. https://doi.org/10.20885/ejem.v4i2.6880
Mubyarto, M. (2002). Peran ilmu ekonomi dalam pemberdayaan ekonomi rakyat. Journal of Indonesian Economy and Business (JIEB), 17(3), 233–242. https://doi.org/10.22146/jieb.6807
Mubyarto, M. (2003). Teori Investasi dan Pertumbuhan Ekonomi dalam Ekonomi Pancasila. Journal of Indonesian Economy and Business (JIEB), 18(3), 218–224. https://doi.org/10.22146/jieb.6631
Mubyarto, M. (2004). Menuju Sistem Ekonomi Pancasila: Reformasi Atau Revolusi. Journal of Indonesian Economy and Business (JIEB), 19(1), 16–26. https://doi.org/10.22146/jieb.6586
Mukhlisin, M., & Hudaib, M. (2025). Rooting neoliberalism into Indonesian Islamic financial institutions through international financial reporting standardisation. Journal of Financial Reporting and Accounting. https://doi.org/10.1108/JFRA-03-2024-0120
Munir, S., Haryono, A., Soesilo, Y. H., & Masruro, U. (2024). Internalization of Pancasila Values in High School Economic Learning in the Digital Era. KnE Social Sciences, 252–265. https://doi.org/10.18502/kss.v9i21.16688
Nuriskandar, L. H., Muhammad, A. A., Alam, S., & Khiyaroh, L. (2025). The Convergence of Islamic Law and Customary Law in the Management of Zakat in Indonesia and Malaysia. Insani: Jurnal Pranata Sosial Hukum Islam, 1(1), 63–79. Retrieved from https://journal.mahkotascience.org/index.php/insani/article/view/5
Nurizka, M. S., Islami, A., Rofi’ieh, M., & Dzulfikar, M. L. (2025). Criticism of the Neoclassical Approach in Islamic Economic Policy in Indonesia. Jurnal Pelita Raya, 1(1), 17–30. Retrieved from https://journal.mahkotascience.org/index.php/jpr/article/view/9
Rahmani, Z., Rozi, R., Fitriyanti, E., Iqbal, M., & Karimullah, S. S. (2023). Implementation of Sharia Economic Principles in the Globalization Era. ASY SYAR’IYYAH: JURNAL ILMU SYARI’AH DAN PERBANKAN ISLAM, 8(2), 185–200. https://doi.org/10.32923/asy.v8i2.3516
Retnoningsih, Y. D., & Jamin, M. (2024). Indonesia’s Pancasila Economy: The Significance of Law in Sustainable Development. International Conference on Cultural Policy and Sustainable Development (ICPSD 2024), 634–640. Atlantis Press. https://doi.org/10.2991/978-2-38476-315-3_86
Rizalihadi, T. (2019). Kemandirian Usaha Kreatif Berbasis Online Untuk Tercapainya Ketahanan Ekonomi Nasional. Jurnal Lemhannas RI, 7(4), 23–28. https://doi.org/10.55960/jlri.v7i4.108
Rizki Aris Suseno, W., Sri Umi Mintarti Widjaja, & Sugeng Hadi Utomo. (2022). Internalization of The Economic Morality Of Pancasila in Economic Behavior on Economic Education Master Students in Universitas Negeri Malang. International Journal Of Humanities Education and Social Sciences (IJHESS), 2(1), 73–84. https://doi.org/10.55227/ijhess.v2i1.211
Sahab, A., Nauvarian, D., Larasati, N. D., & Hennida, C. (2024). Indonesian foreign investment policy under oligarchic economy: striking balance between economic nationalism and liberalization. Journal of the Asia Pacific Economy, 1–19. https://doi.org/10.1080/13547860.2024.2361575
Salendu, S. (2021). The productivity of the agricultural sector and industrial sector as a driving force of economic growth and community welfare in Indonesia. Benchmarking: An International Journal, 28(7), 2216–2231. https://doi.org/10.1108/BIJ-07-2019-0349
Sen, A. (1988). The concept of development. Handbook of Development Economics, 1, 9–26. https://doi.org/10.1016/S1573-4471(88)01004-6
Sen, A. (2006). What is the Role of Legal and Judicial Reform in the Development Process? In The World Bank Legal Review, Volume 2: Law, Equity and Development (pp. 33–49). Brill Nijhoff. https://doi.org/10.1163/9789047411727_004
Subroto, W. T. (2015). Revitalization of pancasila economic system in the globalization era. International Journal of Economics and Financial Issues, 5(4), 860–867.
Taba, I. (2024). Evolusi Pemikiran dan Lingkungan yang Berubah menuju Knowledge Base Society: Sudut Pandang Ekonomi Pancasila. 4(1), 1–10. https://doi.org/10.52738/pjk.v4iX.524
Utomo, B., & Setiyono, Y. Y. (2024). Leveraging Digital Technology in Micro SMEs to Enhance Indonesia’s Economic Prosperity. Jurnal Lemhannas RI, 12(3), 391–402. https://doi.org/10.55960/jlri.v12i3.985
Wardhana, I. W., Syahyuti, S., Jamal, E., & Silalahi, S. A. F. (2024). Urgensi dan Strategi Pengarusutamaan Ekonomi Pancasila dalam Pembangunan Ekonomi Nasiona. 4(1), 1–10. https://doi.org/10.52738/pjk.v4iX.520
Yahya, A., Fadlulloh, Q. H., Nurdin, N., & Imanullah, M. N. (2024). Integration of Pancasila Values in Economic Legal engineering for National Development. Walisongo Law Review (Walrev), 6(1), 56–70. https://doi.org/10.21580/walrev.2024.6.1.22259
Baiza, A. (2023). The Concept of People’s Economy Based On Pancasila As Legistimation of Economic Ideology In Indonesia. International Journal of Economics and Management Review, 1(2), 15–28. https://doi.org/10.58765/ijemr.v1i2.119
Budimanta, A. (2024). Struktur Ekonomi Pancasila (Pancasilanomics). 4(1), 1–27. https://doi.org/10.52738/pjk.v4iX.522
Bukido, R., Muslihin, M. A., & Karimullah, S. S. (2025). Family Economic Empowerment Strategies in Gangga II Village: A Maqashid Shariah Perspective. Al-Mujtahid: Journal of Islamic Family Law, 5(1), 1–12. https://doi.org/10.30984/ajifl.v5i1.3438
Febriani, S., Nevi, F., & Asbari, M. (2022). Pancasila as a Paradigm in Indonesia’s People’s Economic Develompment. Journal of Information Systems and Management (JISMA), 1(3), 1–5. https://doi.org/10.4444/jisma.v1i3.61
Fitriyanti, E., Wulandari, A., Fahria, I., & Karimullah, S. S. (2025). Analysis of the Lerner Index of the Halal Food Industry in Bangka Belitung from the Perspective of Ibn Khaldun’s Price Concept. ASY SYAR’IYYAH: JURNAL ILMU SYARI’AH DAN PERBANKAN ISLAM, 10(1), 1–23. https://doi.org/10.32923/asy.v10i1.5101
Haerunnisa, H., Sugitanata, A., & Karimullah, S. S. (2023). Analisis Strukturalisme Terhadap Peran Katalisator Instrumen Keuangan Syariah dalam Mendorong Pembangunan Berkelanjutan dan Tanggung Jawab Sosial.
Al-’Aqdu: Journal of Islamic Economics Law, 3(2), 124–134. https://doi.org/10.30984/ajiel.v3i2.2853
Harun, H., Van-Peursem, K., & Eggleton, I. R. C. (2015). Indonesian public sector accounting reforms: dialogic aspirations a step too far? Accounting, Auditing & Accountability Journal, 28(5), 706–738. https://doi.org/10.1108/AAAJ-12-2012-1182
Insani, N., Ibrahim, Z. S., Karimullah, S. S., Gönan, Y., & Sulastri, S. (2024). Empowering Muslim Women: Bridging Islamic Law and Human Rights with Islamic Economics. De Jure: Jurnal Hukum Dan Syar’iah, 16(1), 88–117. https://doi.org/10.18860/j-fsh.v16i1.26159
Karimi, S. (2024). Sistem Ekonomi Pancasila, Keadilan Sosial, dan Neoliberalisme Global. 4(1), 1–10. https://doi.org/10.52738/pjk.v4iX.526
Karimullah, S. S. (2022). Moral Values Internalization of Pancasila in the Education System: A Response to the Problems of Radicalism. Technical and Vocational Education International Journal (TAVEIJ), 2(01), 32–38.
Karimullah, S. S. (2023). Actualization of Pancasila As an Integrative Paradigm in Forming Imagination and Creativity. Pancasila: Jurnal Keindonesiaan, 3(1), 11–21. https://doi.org/10.52738/pjk.v3i1.141
Karimullah, S. S. (2024). Analysis of the Influence of Political Power on the Implementation of the Islamic Economic System. Jurnal Ekonomi Syariah, Akuntansi Dan Perbankan (JESKaPe), 8(2), 179–209. https://doi.org/10.52490/jeskape.v8i2.4714
Kian, L., Purwanti, A., & Sabri, M. (2021). Internalisasi dan Instansionalisasi Kebijakan Ekonomi Pancasila. Pancasila: Jurnal Keindonesiaan, 1(1), 45–56. https://doi.org/10.52738/pjk.v1i1.23
Kim, H. S. (2017). Patterns of economic development: correlations affecting economic growth and quality of life in 222 countries. Politics & Policy, 45(1), 83–104. https://doi.org/10.1111/polp.12190
Meliala, A. J., & Woods, J. A. (2022). The History of Indonesian Economic Law. International Conference on Law Studies (INCOLS 2022), 219–236. Atlantis Press. https://doi.org/10.2991/978-2-494069-23-7_21
Moldicz, C. (2025). Key Dilemmas of Indonesia’s Development. In Indonesia’s Economy After Joko Widodo: Economic Growth and Transformation (pp. 151–171). Springer. https://doi.org/10.1007/978-3-031-87120-7_7
Mubyarto, M. (1999). Sistem dan politik ekonomi berjiwa kenyataan. Economic Journal of Emerging Markets, 4(2), 121–125. https://doi.org/10.20885/ejem.v4i2.6880
Mubyarto, M. (2002). Peran ilmu ekonomi dalam pemberdayaan ekonomi rakyat. Journal of Indonesian Economy and Business (JIEB), 17(3), 233–242. https://doi.org/10.22146/jieb.6807
Mubyarto, M. (2003). Teori Investasi dan Pertumbuhan Ekonomi dalam Ekonomi Pancasila. Journal of Indonesian Economy and Business (JIEB), 18(3), 218–224. https://doi.org/10.22146/jieb.6631
Mubyarto, M. (2004). Menuju Sistem Ekonomi Pancasila: Reformasi Atau Revolusi. Journal of Indonesian Economy and Business (JIEB), 19(1), 16–26. https://doi.org/10.22146/jieb.6586
Mukhlisin, M., & Hudaib, M. (2025). Rooting neoliberalism into Indonesian Islamic financial institutions through international financial reporting standardisation. Journal of Financial Reporting and Accounting. https://doi.org/10.1108/JFRA-03-2024-0120
Munir, S., Haryono, A., Soesilo, Y. H., & Masruro, U. (2024). Internalization of Pancasila Values in High School Economic Learning in the Digital Era. KnE Social Sciences, 252–265. https://doi.org/10.18502/kss.v9i21.16688
Nuriskandar, L. H., Muhammad, A. A., Alam, S., & Khiyaroh, L. (2025). The Convergence of Islamic Law and Customary Law in the Management of Zakat in Indonesia and Malaysia. Insani: Jurnal Pranata Sosial Hukum Islam, 1(1), 63–79. Retrieved from https://journal.mahkotascience.org/index.php/insani/article/view/5
Nurizka, M. S., Islami, A., Rofi’ieh, M., & Dzulfikar, M. L. (2025). Criticism of the Neoclassical Approach in Islamic Economic Policy in Indonesia. Jurnal Pelita Raya, 1(1), 17–30. Retrieved from https://journal.mahkotascience.org/index.php/jpr/article/view/9
Rahmani, Z., Rozi, R., Fitriyanti, E., Iqbal, M., & Karimullah, S. S. (2023). Implementation of Sharia Economic Principles in the Globalization Era. ASY SYAR’IYYAH: JURNAL ILMU SYARI’AH DAN PERBANKAN ISLAM, 8(2), 185–200. https://doi.org/10.32923/asy.v8i2.3516
Retnoningsih, Y. D., & Jamin, M. (2024). Indonesia’s Pancasila Economy: The Significance of Law in Sustainable Development. International Conference on Cultural Policy and Sustainable Development (ICPSD 2024), 634–640. Atlantis Press. https://doi.org/10.2991/978-2-38476-315-3_86
Rizalihadi, T. (2019). Kemandirian Usaha Kreatif Berbasis Online Untuk Tercapainya Ketahanan Ekonomi Nasional. Jurnal Lemhannas RI, 7(4), 23–28. https://doi.org/10.55960/jlri.v7i4.108
Rizki Aris Suseno, W., Sri Umi Mintarti Widjaja, & Sugeng Hadi Utomo. (2022). Internalization of The Economic Morality Of Pancasila in Economic Behavior on Economic Education Master Students in Universitas Negeri Malang. International Journal Of Humanities Education and Social Sciences (IJHESS), 2(1), 73–84. https://doi.org/10.55227/ijhess.v2i1.211
Sahab, A., Nauvarian, D., Larasati, N. D., & Hennida, C. (2024). Indonesian foreign investment policy under oligarchic economy: striking balance between economic nationalism and liberalization. Journal of the Asia Pacific Economy, 1–19. https://doi.org/10.1080/13547860.2024.2361575
Salendu, S. (2021). The productivity of the agricultural sector and industrial sector as a driving force of economic growth and community welfare in Indonesia. Benchmarking: An International Journal, 28(7), 2216–2231. https://doi.org/10.1108/BIJ-07-2019-0349
Sen, A. (1988). The concept of development. Handbook of Development Economics, 1, 9–26. https://doi.org/10.1016/S1573-4471(88)01004-6
Sen, A. (2006). What is the Role of Legal and Judicial Reform in the Development Process? In The World Bank Legal Review, Volume 2: Law, Equity and Development (pp. 33–49). Brill Nijhoff. https://doi.org/10.1163/9789047411727_004
Subroto, W. T. (2015). Revitalization of pancasila economic system in the globalization era. International Journal of Economics and Financial Issues, 5(4), 860–867.
Taba, I. (2024). Evolusi Pemikiran dan Lingkungan yang Berubah menuju Knowledge Base Society: Sudut Pandang Ekonomi Pancasila. 4(1), 1–10. https://doi.org/10.52738/pjk.v4iX.524
Utomo, B., & Setiyono, Y. Y. (2024). Leveraging Digital Technology in Micro SMEs to Enhance Indonesia’s Economic Prosperity. Jurnal Lemhannas RI, 12(3), 391–402. https://doi.org/10.55960/jlri.v12i3.985
Wardhana, I. W., Syahyuti, S., Jamal, E., & Silalahi, S. A. F. (2024). Urgensi dan Strategi Pengarusutamaan Ekonomi Pancasila dalam Pembangunan Ekonomi Nasiona. 4(1), 1–10. https://doi.org/10.52738/pjk.v4iX.520
Yahya, A., Fadlulloh, Q. H., Nurdin, N., & Imanullah, M. N. (2024). Integration of Pancasila Values in Economic Legal engineering for National Development. Walisongo Law Review (Walrev), 6(1), 56–70. https://doi.org/10.21580/walrev.2024.6.1.22259