Economic justice

Vice President Outlines Four Steps to Achieve Economic Justice

Jakarta (ANTARA) – Vice President Ma’ruf Amin has outlined four steps that can help achieve economic justice – a mandate inherited from the nation’s founders and defined in the Pancasila and the 1945 Constitution.

To achieve economic justice, Indonesia’s economic progress must prevent inequality in society, he said in his address to the XXII Plenary Session of the Indonesian Association of Bachelors in Economics (ISEI) and the ISEI 2022 national seminar in Jakarta on Wednesday.

“A clear idea is needed to use economic resources to achieve this goal,” he added, according to a press release received here.

Resources can be used to achieve economic justice through four concrete steps, he said.

The first step is to establish supply chains for basic needs to avoid disruption at the local level. The most basic economic stability is to provide the basic needs of the community, especially food, Amin explained.

The second step is to design an effective mix of fiscal and monetary policies. The government should be careful in formulating fiscal and monetary policies to maintain macroeconomic and financial sector stability, which is important to prevent crisis risks.

That should help him support national interests while remaining sensitive to the needs of the lower middle class, the vice president said.

The third step is to strengthen innovation and digitalization to encourage inclusive economic growth. In the long term, its benefits are expected to reach community groups across Indonesia and reduce economic inequality.

The fourth step is to encourage equity by, among other things, promoting cooperative enterprises, limiting land tenure, facilitating access to capital for owners of micro, small and medium-sized enterprises (MSMEs), corporate control (EP) on industries, and rural industrialization based on local resources.

Therefore, the Vice President advised all ISEI members to exercise their functions as economic experts to support the achievement of Indonesia’s goal of equal distribution of economic justice across the country.

“ISEI, whose members are economic experts from various institutions, certainly plays a vital role in presenting new ideas to manage a stronger national economy. I hope this event can produce useful reflections for inclusive and dignified national economic development in the future,” he added.

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