TEMPO.CO, Jakarta – President Prabowo Subianto claimed that his economic thinking is significantly influenced by his family, particularly his late father, Sumitro Djojohadikusumo. Sumitro adhered to a mixed economic philosophy that integrated the strongest aspects of both socialism and capitalism.
“(Sumitro) said that the best economic system for Indonesia should be a mixed economic system. We have to take the best from capitalism and the best from socialism. I think this will become the mainstream thinking now,” said Prabowo during the Forbes Global CEO Conference at The St. Regis Hotel, Jakarta, on Wednesday, October 15, 2025.
Prabowo explained that his father lived during the struggle for independence, a time when most leaders in Asia and Africa gravitated toward socialist ideologies. Prabowo referred to socialism, Marxism, and communism as movements that fought for freedom against colonialism and imperialism.
“I think that is why many leaders in Asia and Africa, youth movements, were practically left-wing, socialist. Many were communist,” he noted.
Prabowo revealed that his father was a socialist when he was young and was a key leader of the Indonesian Socialist Party. However, Sumitro’s thinking evolved significantly when he was sent to the United Nations to represent Indonesia and lobby for the nation.
There, Sumitro befriended American leaders who were also business figures. Crucially, these American businessmen opposed colonialism and imperialism.
“They opposed all colonial and imperialist movements. America at that time was at the forefront, essentially forcing European colonial powers to decolonize,” he said.
According to Prabowo, Sumitro learned from his meetings with his American friends. Prabowo specifically cited the influence of Matthew B. Fox. “Matthew B. Fox, at that time, I think the founder of 20th Century Fox, became a close friend of my father and always helped the Indonesian independence movement,” he said.
When Sumitro returned to Indonesia at the beginning of independence, Prabowo said his father’s economic perspective was balanced. Sumitro’s views remained socialist, but he understood the vital importance of capitalism.
Prabowo, who was still young at the time, asked Sumitro about the best economic system. Sumitro responded that the best system is a mixed economy that strategically combines socialism and capitalism.
Prabowo suggested that this philosophy is almost similar to the concept of the Third Way championed by the former British Prime Minister Tony Blair. Ultimately, Prabowo concluded that in the 21st century, it is impossible to choose one singular ideological framework.
“We cannot choose one ideological framework, one philosophical framework that suits everyone. We must, I think, find a system that suits each country. That is my opinion,” he concluded.
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