Fairness, Competition & Development: Foundations for a Social Market Economy in Malaysia

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In 2007, a global financial crisis deeply undermined the Malaysian economy and exposed the urgent need to get out of the “Middle-Income Trap” in order to achieve the “High Income” status of a modern, developed, industrial nation. The Malaysian Government has presented a number of plans including a ‘New Economic Model’ but there is still much debate about the way the economy and society should evolve.

•What marks a developed country?

•Is it just a matter of achieving ‘high income’ or does it require something more?

•What will it take for Malaysia to achieve sustainable development?

•Can Malaysia do it?

This seminar is a presentation of a set of ideas and recommendations found in a new study, “Fairness, Competition and Development.” Here, the authors attempt to assess the state of the Malaysian economy and how it arrived at where it is. With comparisons to the German Social Market Economy and other economic models, this seminar looks at the issues affecting Malaysians including: economic and enterprise development, labour, jobs and fair wages, social policies, social protection and social welfare, and education.