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Propaganda:Facebook video accusing Mahathir and his cronies of trying to topple the BN government…
The Politics of Rice, Bread, Sugar and other UMNO Businesses in Malaysia: Crony Companies
IS PETRON MALAYSIA A CRONY COMPANY?
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Crony-capitalism index
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The crony-capitalism index aims to indicate whether the livelihood of the people from certain country or city with a capitalist economy are easily affected by crony capitalism. It is not an internationally recognized index due to its limitations.[1]
It is a new measurement of crony capitalism designed by The Economist newspaper based on the “work by Ruchir Sharma of Morgan Stanley Investment Management, Aditi Gandhi and Michael Walton oew Delhi’s Centre for Policy Research, and others” in 2014.[2]
https://en.wikipedia.org/wiki/Crony-capitalism_index
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6 May 2016
Almost all of the wealth in the country is crony wealth.
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malaysiakini.com @malaysiakini
The Economist‘s second run of the index of crony capitalism saw Malaysia rising to number two, just behind Russia which clinched the crony capitalism crown.
Malaysia was number three in the index when it was first instituted two years ago in 2014, to test if the world was experiencing a global re-run of the late 19th century age of the American ‘robber barons’.
This, stated the business publication, is against the backdrop of the global fraud investigations into the state-owned investment arm, 1Malaysia Development Berhad (1MDB), that is answerable to prime minister Najib Abdul Razak
But The Economist said that despite the unearthing of crony capitalism by global probes, Malaysia continued to score badly on the index as cronyism has led to political instability.
Another interesting statistic to note is that if one were to look at the chart for the crony income and non-crony income in the countries listed, there is usually a substantial and noticeable gap between the two.
However, Malaysia’s statistic showed almost all of the wealth in the country is crony wealth, with just a smidgen of difference between the two.
https://www.malaysiakini.com/news/340552
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KUALA LUMPUR, May 6 — Malaysia was ranked as having the second-highest percentage of billionaires’ wealth coming from cronyism in a global survey by The Economist.
According to the 2016 index by the London-based weekly publication measuring 22 economies, Russia topped the list, while Malaysia’s neighbours the Philippines, Singapore, Indonesia and Thailand were third, fourth, seventh and 12th respectively.
“Behind the crony index is the idea that some industries are prone to ‘rent seeking’. This is the term economists use when the owners of an input of production—land, labour, machines, capital—extract more profit than they would get in a competitive market.
“Cartels, monopolies and lobbying are common ways to extract rents. Industries that are vulnerable often involve a lot of interaction with the state, or are licensed by it: for example telecoms, natural resources, real estate, construction and defence,” said The Economist in an article titled “The party winds down” today.
The crony capitalism index, however, did not contain metrics, nor did it define “crony sectors” or “non-crony sectors”.
The Economist said there was a surge over the past two decades in billionaire wealth in industries that usually involved close ties with the government since globalisation in the 1990s, like casinos, oil and construction, but crony capitalism appeared to be coming to an end.
– See more at: http://www.themalaymailonline.com/malaysia/article/malaysia-no.-2-on-the-economists-crony-capitalism-index#sthash.BfG7Ib3A.dpuf
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