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An economy that is managed according to these precepts may be described as a liberal economy or operating under liberal capitalism. Economic liberals commonly adhere to a political and economic philosophy that advocates a restrained fiscal policy and a balanced budget through measures such as low taxes, reduced government spending, and ...
Pancasila economics (Indonesian: Ekonomi Pancasila), also known as "Indonesian populist economics" (Indonesian: Ekonomi kerakyatan Indonesia), is an economic system which aims to reflect the five principles of Pancasila. [1] The term "Pancasila economy" first appeared in an article by Emil Salim in 1967. [2]
In 1978, Suharto secured a parliamentary resolution (Tap MPR No. 2/1978) on the Pancasila Appreciation and Practicing Guide (Pedoman Penghayatan dan Pengamalan Pancasila or P4) and later began a mandatory program to indoctrinate all Indonesians—from primary school students to office workers—for the application of the P4 and in living the ...
By the mid-1930s, the global liberal economic order had collapsed, with the old, highly integrated trading system replaced by a number of closed economic blocks. Similarly, in mainstream economics free market thinking was undermined in the 1930s by the success of the New Deal and by the Keynesian Revolution .
Liberal socialism is a political philosophy that incorporates liberal principles to socialism. [1] This synthesis sees liberalism as the political theory that takes the inner freedom of the human spirit as a given and adopts liberty as the goal, means and rule of shared human life.
Liberal corporatism is the application of economic corporatism by liberal political parties and organizations, that recognizes the bargaining interests of multiple groups within society, such as in the business, labour, and agricultural sectors and licenses them to engage in bargaining over economic policy with the state. [1]
By the First World War, the Liberal Party had largely abandoned classical liberal principles. [ 47 ] The changing economic and social conditions of the 19th century led to a division between neo-classical and social (or welfare) liberals, who while agreeing on the importance of individual liberty differed on the role of the state.
Under the cultivation system (or "tanam paksa" in Indonesian) in place for most of the 19th century, the Dutch colonial government in the Indonesian archipelago required indigenous farmers to deliver, as a sort of tax, fixed amounts of specified crops, such as sugar or coffee.