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Tri Hita Karana is a traditional philosophy for life on the island of Bali, Indonesia.The literal translation is roughly the "three causes of well-being" or "three reasons for prosperity."
A Pancasila economy can be considered an example of a mixed economy or a third way economic system. [ 2 ] A Pancasila economy is seen as a counterbalance to a neoclassical approach promoting individualism and free markets [ 3 ] that is adapted the values of Indonesian society, including religious values, culture, customs and norms.