Building a Maslahah Economic System; Indonesian Economic System

The social justice as stated in the fifth principle of Pancasila and welfare in accordance with Article 33 of the 1945 Constitution, has not yet been realized. There is an error in determining the ultimate goal of Indonesia's economic development. Independence is not the goal of economic development but self-confidence. The Indonesian economic system is inspired by the Pancasila and characterized by kebersamaan (mutualism), kekeluargaan (brotherhood), non-discrimination, non-exploitation, and anti-monopolism. The system portrays structuralism, cooperation, religiousness, institutionalism, non-usurious, social well-being, independence, and self-esteem. Furthermore, its values are in line with the maslahah (benefits). This exploratory study proposed a maslahah economic system for the Pancasila economic system (Pancasilanomics). It defined the research question regarding “a maslahah economic system” and developed the research design, including formulating a maslahah economic system house. The results showed that the maslahah economic system house includes the maslahah foundation, comprising divinity and caliphate, and fundamental references consisting of Pancasila and Article 33 of the 1945 Constitution. Moreover, the house includes a moral foundation comprising cooperation & participation and kekeluargaan & fair distribution, institutional consisting of cooperatives, BUMN, BUMS, and social institutions. Finally, economic objectives are social welfare and the ultimate economic goal, comprising independence and people’s self-esteem.