Solo — Indonesian President Prabowo Subianto introduced a striking new term—“Greednomics”—to denounce the actions of economic elites whom he accused of repeatedly exploiting the nation’s wealth with impunity.

Speaking at the closing ceremony of the 2025 Congress of the Indonesian Solidarity Party (PSI) on Sunday (July 20), Prabowo delivered a pointed critique of what he described as a deeply entrenched pattern of unethical economic behavior by a select few.

“On October 20, 2024, Mas Gibran and I took the oath of office before the people of Indonesia. We swore to uphold the Constitution and abide by all laws in force,” Prabowo declared in his speech.

He went on to reaffirm his administration’s commitment to constitutional enforcement and taking a firm stand against corruption and injustice.

“For that reason, God willing, I ask only for strength from the Almighty—to give me the courage to uphold the Constitution of the Republic of Indonesia. Our country is rich beyond measure—but so are the thieves,” he said.

Prabowo did not hold back his frustration with actors who, despite repeated warnings, continue to abuse their power.

“It’s unbelievable. They never learn. They’ve been warned again and again, and still—nothing changes. I’m disheartened. In my view, these people are no longer acting out of logic. They’re simply driven by greed.”

It was from this context that Prabowo introduced the term Greednomics, which he described as a new phenomenon in Indonesian political economy: a brand of economic conduct that is irrational, unjust, and devoid of ethical foundation.

“We’re seeing a new economic school of thought emerge. We’ve had various schools of economics—now we have one I call ‘Greednomics.’”

“This so-called Greednomics isn’t in any textbook. It’s not taught in any economics faculty. It’s the science of greed. But… their time will come.”

The president’s remarks quickly drew widespread attention for their sharp criticism of elite behavior and profit-at-all-costs economic practices that, he warned, come at the expense of the Indonesian people.