Downside of populist campaigns in Indonesia

ELECTION campaigns are well known to generate more rhetoric than substance, and the contenders in Indonesia's upcoming presidential contest appear to be fully living up to this expectation. But the rampant populism on display can do more harm than good.

The strikingly similar agenda being offered to voters by the two candidates, Jakarta Governor Joko Widodo and retired general Prabowo Subianto, is a blend of nationalism and protectionism that is unapologetically business-unfriendly. For instance, they both want to limit the role of foreign investment in the economy, impose taxes on exports of resources and maintain the ban on mineral ore exports. Favouring state-sponsored …