Books are windows to the world. Through the books we read, we enter into a broader world. Whether old or new, every book surely holds meaning. At the very least, they unveil perspectives and open horizons of thought and knowledge.
Take this book, for instance. It’s thin, only 61 pages long. Yet it unveils the fog of mystery surrounding the symbiotic relationship between bureaucrats (rulers) and conglomerates.
Old books can serve as windows allowing us to see the past more clearly, and understand the development and policies of the economy that have existed before. Prof. Sumitro Djojohadikusumo has presented a claim that triggers further debate and analysis on how national development funds are used and managed.
In cases like this, old books and historical documents become invaluable because they record important events and the views of experts in the past. They help us understand the historical context behind economic and political issues that may still be relevant today.
Research and scholarly works rooted in the past can also form the basis for policymakers and practitioners to take appropriate steps in addressing current issues. Thus, through accessing old books and historical sources, we can broaden our understanding of the context and complexity of the issues of our time.
In 1993, Prof. Sumitro noted that Indonesia’s Incremental Capital Output Ratio (ICOR) stood at 5, while ASEAN countries had lower ICORs, ranging from 3 to 3.5. A high ICOR indicates that for each additional capital investment, the resulting production output is less efficient than it should be, as it reflects the amount of capital required to produce one additional unit of economic output.
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The comparison between Indonesia’s ICOR and its ASEAN neighbors indicates the potential for leakage of development funds in Indonesia. This raises serious concerns about the efficiency of using national development funds, as well as raising awareness of the importance of managing and allocating development funds more effectively and transparently.
This information provides a more critical perspective on the issue of development fund leakage, highlighting the importance of in-depth economic analysis in understanding the issue. *)
