This book is an insightful and accessible analysis of contemporary Malaysian business and politics. Using the concepts of rent and rent-seeking as tools to study the Malaysian political economy, the authors explore how political patronage influences the accumulation and concentration of wealth. The book considers the impact of party politics and economic development on the relationship between politics and business in Malaysia, and provides up-to-date discussions of government-led change in Malaysia's business community, including the emergence of a Malay business class. In this revised edition, the authors examine how the 1997 Asian currency, liquidity and financial crises have impacted on Malaysia's economy. Their discussion canvasses various economic policy responses, including capital control measures, as well as the ensuing economic recession and political turmoil.

Those pursuing major business (or considering pursuit of business) in Malaysia need to read this book. If you are very familiar with Malaysia politics and business, it makes a great read. Otherwise, only of interest to academics in politics, political economy, and perhaps 'Transparency International.' The only caveat is that it mainly applies to very large business efforts - while something of the entire patronage culture obviously permiates many transaction levels here, only the really big (nationally important) stuff draws the kind of attention discussed in this book.
The book basically presents a slightly pessimistic but fairly accurate view of major business efforts and their effects. The book concludes in the midst of the 1997/8 economic melt-down and subsequent political maneuverings, but stops well short of the late 1999 election.


Reviewer: mullet02 from Mendham, NJ USA
Source: www.amazon.com

When looking at the political economy of Malaysia many authors are quick in taking an extreme point of view. Gomez and Jomo, on the other hand, focus on the reality of the Malaysian situation. Their analysis of the functioning of Malaysia's political economy is frank and thoroughly backed up. By concentrating on the effects of Mahathir's privatisation policies on the Malaysian economy, they have pinpointed several key structural weaknesses which need to be addressed; especially in view of the pressing politial and economic issues which are currently affecting Malaysia. The book therefore, is an absolute must for people interested in Malaysia's complex economic structure. --

Reviewer: Bastiaan Kniphorst from Amsterdam, the Netherlands
Source: www.amazon.com

This book is essentially about profits, politics, and patronage in Malaysia. Indeed it is a useful detailed study on 'political economy in action' rather than the political economy of Malaysia. Those looking for a survey of previous studies on the political economy in Malaysia shall be disappointed.

Reviewer: An Amazon.com Customer
Source: www.amazon.com