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The change of trends in the global industrial revolution has impacted various advances in the economic and industrial system until the realization of a liberalization system and capitalization of the global economy. This study aims to examine the impact of the liberalization and capitalization of the digital economy on the middle class, working class, and lower class societies in one of the developing countries in the Southeast Asian region, Indonesia. The methodology used in this study is a descriptive qualitative analysis approach, based on data obtained from official sources and literature studies. The class disparity between the capital owner class, middle class and working-lower class, poverty, and forms of social inequality in the structure of society is increasingly apparent. At present, the emergence of an era known as the Industrial Revolution 4.0 led to the change of social and economic trends towards more advanced systems. This study assumed the changes in the patterns and forms of economic liberalization and capitalization that were previously implemented traditionally towards digital system through opening new online markets platform. The study also argues that the Industrial Revolution 4.0 differently impacted the middle class, working class, and lower class society in developing countries, particularly Indonesia. OK.Mohammad Fajar Ikhsan (Malaysia), Rabiul Islam (Malaysia), Kamarul Azman Khamis (Malaysia), Ariroza Sunjay (Indonesia)

Impact of digital economic liberalization and capitalization in the era of industrial revolution 4.0: case study in Indonesia