Reading Economic Policy Through the Lens of History: Insights from Dr. Haryono Rinardi

UNDIP, Semarang (28/3) – Dr. Drs. Haryono Rinardi, M.Hum., a lecturer and Head of the Master’s and Doctoral Programs in History at the Faculty of Humanities, Universitas Diponegoro (FIB UNDIP), is widely recognized for his expertise in macroeconomic history. This field examines how economic policies have always been closely intertwined with the socio-political dynamics of society throughout history.

To gain deeper insights into his academic perspectives and experiences, the Public Relations Team of FIB UNDIP conducted an exclusive interview that revealed compelling insights into the relationship among history, economics, and social life.

Economic History: From Villages to National Policies

According to Dr. Haryono, the study of economic history extends beyond the daily lives of farmers and rural communities. It also encompasses major state policies that significantly affect people’s livelihoods. He emphasized that macroeconomic history often focuses on political economy, particularly government policies across periods, ranging from colonial-era forced cultivation and the liberalization introduced by the Agrarische Wet to modern monetary policies.

“When we talk about macroeconomics, we are always discussing policy. For example, how governments implement tight fiscal measures to control inflation or high-interest-rate policies that directly affect the banking sector and society,” Dr. Haryono explained.

Learning from Historical Patterns

Dr. Haryono highlighted that although history never repeats itself exactly, patterns of economic policy often reappear in different forms.

He cited the oil boom of the 1970s, when soaring global oil prices generated substantial revenues for Indonesia. However, the management of those funds led to cooperative development initiatives that proved unsustainable, such as BUUD (Village Unit Business Agencies) and KUD (Village Unit Cooperatives). Established during the 1960s, these institutions were intended to support farmers through credit facilities, production inputs, and agricultural marketing. However, they largely reflected government priorities rather than the actual needs of local communities.

“History always provides lessons. Large amounts of funding were allocated to cooperatives, but without adequate guidance and capacity building, the results did not last. Similarly, during the colonial era, attempts were made to establish village granaries, but they failed because they did not align with the needs of the people,” he noted.

Relevance to Current Conditions

According to Dr. Haryono, the study of macroeconomic history remains highly relevant for understanding Indonesia’s contemporary economic challenges. Examples include government policies on nickel downstreaming, tobacco excise taxes, and the ongoing challenges faced by micro, small, and medium enterprises (MSMEs) in production and marketing.

“If we rely solely on subsidies or direct assistance, it is like continuously giving money without building independence. What is more important is guidance and development—helping MSMEs improve their production capacity and market their products effectively,” he said.

The Importance of Historical Perspectives

As an academic, Dr. Haryono emphasized that history is not merely a collection of stories from the past. Rather, it serves as a tool for understanding policy patterns and preventing society from repeating past mistakes. By studying macroeconomic history, students and the broader public can better understand the connections between policy decisions, politics, and their impact on everyday life.

“History is not about romanticizing the past. It teaches us critical thinking so that we can better understand today’s economic policies and their implications for the future,” Dr. Haryono concluded. (Public Communication/UNDIP/FIB Public Relations)

Source: Official Website of the Faculty of Humanities, Universitas Diponegoro

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