The era of Neo-Liberalism Policy apparently had ended. Market force is no longer assumed as sacred and always right. In a meeting at Toulose, French President Sarkozy declared: "The thought about market force as super-force that cannot be defeated by whatever regulations and political intervention was a mad idea".
Prime Minister of Australia from Labour Party, wrote an essay in "The Monthly" magazine earlier this year: "The global current economic crisis is the peak of the "Neo-Liberalism" policy that had been used as a guideline of many governments since 1978". Mr. Rudd now replaced that policy with a new policy called "Social-Democratic Capitalism".
Mr. Rudd promised the active Government role in controlling the economy, eventhough he still keep the policy of "Open Market" for Australia.
The world is now replaying the situation of the year 1920's. In 1926 John Maynard Keynes wrote "The End of Laissez-faire" and showed how productive was capitalism if it was managed, not let run freely. Not long after, America and Europe tried to combine the dynamics of capitalism with smart mananagement of technocrates, a new economic policy popularly called "Keynesian Collaboration".
Well-known economist Joseph E. Stitglitz queried if we are now imomplementing the "Keynesian collaboration", for seeing from the USA to Indonesia - the change in the traditional economic policy by increasing the role of Governments in controlling the economy, such as providing public funding for "economic stimulus package" to stimulate the country's economic growth.
Vice Presidential candidate that strongly critisized the Neo-Liberalism Policy is Mr. Prabowo Subianto, who declared that Indonesia should discard this Neo-Leberal economic policy and replaced it with the new "Peoples-oriented Economic Policy". With this new policy, he assured that Indonesian economic growth can be increased to a double-digit growth to bring prosperity to the wjole people of Indonesia.
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