ECONOMY SYSTEM IN SOEKARNO ERA / OLD PERIOD
A year after the Dutch government recognized the sovereignty of the Republic of Indonesia, precisely in 1950, the Republic of Indonesia's bonds were issued by the government. This event marked the active return of the Indonesian capital market.
Preceded by the issuance of Emergency Law No. 13 dated September 1, 1951, which will later be stipulated as Law No. 15 of 1952 concerning the Exchange, the Indonesian government reopened the Stock Exchange in Jakarta on 31 June 1952, after being stalled for 12 years. The implementation was submitted to the Union of Money and Securities Trading (PPUE) which consisted of 3 state banks and several other Securities brokers with Bank Indonesia as advisors.
Since then the Stock Exchange has been growing rapidly, even though Securities traded are Securities issued before World War II. This activity has increased since the State Industry Bank issued bond loans in succession in 1954, 1955 and 1956. Bond buyers have many Dutch citizens, both individuals and legal entities. All members are permitted to conduct arbitrage transactions overseas, especially with Amsterdam.
SOURCE :
https://dwihar23.wordpress.com/2012/03/30/sistem-perekonomian-indonesia-masa-orde-lama/
OPINION ABOUT THE BEST ECONOMY SYSTEM FOR INDONESIA
In my opinion a good economic system for Indonesia is the Pancasila because in Indonesia there are many people who have businesses that are classified as small and medium enterprises, which still cannot compete perfectly with big businesses. therefore, the role of the government is needed to assist in regulating or providing policies so that the industry can develop.
and in my opinion if Indonesia uses the economic system of pure capitalism. There are still many Indonesians currently who are below the poverty line. Because the system only benefits two groups, namely the owners of capital and banking.People who have capital will get richer, while the poor will get poorer and eventually will cause inequality.The role of the government in monitoring the economic development that runs in this country is also very necessary for the creation of prosperity in people's lives.