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The Development of Malaysian Capitalism: From British Rule to the Present Day
As Malaysia grappled with bitter ethnic and political tensions at the end of the 1960s, the government initiated growth-oriented economic reforms to promote cohesion in the young, multi-ethnic nation. The large scale and lasting effects of these policies forged the countries’ exceptional economic by 2020, Malaysia will likely enter the club of ‘high-income’ countries.
This volume comprehensively surveys Malaysia’s political economy, mapping the intersecting forces that inform economic growth, broader Asian development, the weight of colonial institutions, the influence of Islamic finance, and the sometimes ambiguous role of the state. It offers a discerning overview of Malaysian capitalism through readings of its history since 1874 – from the colonial economy through modernisation and accelerated development, up to its recent passage in global crises. The author details the causes and conditions of Malaysia’s economic success; the result is a compelling portrait of a young capitalist nation sitting at both the geographic centre of Southeast Asia and at the crossroads of sovereign development.
"[Malaysia] is the lead goose in the flight of second-generation wild geese (nations) in Asia. Alternatively, for others, it deprives the Malaysian people of writing their own history by alienating them through fear via a repressive apparatus which constantly renews itself. It also enslaves the economy to a rent-seeking capitalist system that is partially efficient but utterly unfair." says de Micheaux. The book is required reading for students and readers of Malaysia, economic development, trade, and issues of corruption, statism, and multi-ethnic politics.
This volume comprehensively surveys Malaysia’s political economy, mapping the intersecting forces that inform economic growth, broader Asian development, the weight of colonial institutions, the influence of Islamic finance, and the sometimes ambiguous role of the state. It offers a discerning overview of Malaysian capitalism through readings of its history since 1874 – from the colonial economy through modernisation and accelerated development, up to its recent passage in global crises. The author details the causes and conditions of Malaysia’s economic success; the result is a compelling portrait of a young capitalist nation sitting at both the geographic centre of Southeast Asia and at the crossroads of sovereign development.
"[Malaysia] is the lead goose in the flight of second-generation wild geese (nations) in Asia. Alternatively, for others, it deprives the Malaysian people of writing their own history by alienating them through fear via a repressive apparatus which constantly renews itself. It also enslaves the economy to a rent-seeking capitalist system that is partially efficient but utterly unfair." says de Micheaux. The book is required reading for students and readers of Malaysia, economic development, trade, and issues of corruption, statism, and multi-ethnic politics.
425 pages, Paperback
Published July 1, 2017
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December 31, 2019
A very good book. Full of statistics and well supported conclusions.
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