RRI.CO.ID, Bandar Lampung - Indonesia's President, Prabowo Subianto, opined that nationalism is the primary foundation for a nation's economic growth and progress. He made this statement while delivering remarks at the opening of the XVIII National Congress of the Indonesian Young Entrepreneurs Association (HIPMI) in Bandar Lampung, capital of Sumatra's Lampung province, on Wednesday, June 10, 2026.

Before thousands of HIPMI congress participants, Prabowo urged young entrepreneurs to understand that economic progress does not arise on its own. He affirmed that it rather grows and endures because of a strong spirit of nationalism.

"Even grandfathers of capitalism, teachers of capitalism, said that economic growth can only arise through nationalism," Prabowo said, as quoted from the country's Presidential Secretariat.

He cited the ideas of American scholar Liah Greenfeld from the book The Spirit of Capitalism: Nationalism and Economic Growth. According to the President, even thinkers whose work serves as a reference for the development of modern capitalism acknowledge that nationalism is a key factor driving economic growth.

"Today, it is claimed, we live in the period of late capitalism, and possibly in the postindustrial society; yet nationalism is not gone, nor does it show any signs of being gone soon," Prabowo said as he read the book excerpt.

The book said, as quoted by Prabowo, that nationalism "first appeared in England" and became the "preponderant vision" of its society. It further said that the sustained growth characteristic of the modern economy is not self-sustained, but "growth is stimulated and sustained by nationalism".

"What I take from the final sentence is: 'The sustained growth characteristic of the modern economy'—this characteristic does not emerge or develop on its own. Development and growth are stimulated and sustained by nationalism," the president said.

Prabowo stressed that the experiences of various countries demonstrate a close relationship between nationalism and economic progress. According to him, the rise of several major nations cannot be separated from the sense of national identity and patriotism that they have built and maintained.

"Japan prospered, America prospered, Western Europe prospered, and China is now rising because of nationalism," he asserted.