Abandon old ways, come up with new policies, says economist

 

An economist says the new government should adopt a more humane and ethical framework where decision-making includes the element of care. (Bernama pic)

PETALING JAYA: The new government of Ismail Sabri Yaakob must abandon divisive politics and the “middleman” culture and come up with a new policy-making model, says economist Mohamed Aslam Haneef of International Islamic University Malaysia.

Among the changes needed are a smaller, bipartisan Cabinet and an end to the kind of bloated Cabinet formed by Muhyiddin Yassin.

“Ismail’s new Cabinet must be a slim and trim one made up of capable and qualified people, instead of the 114 MPs who support him,” said Aslam.

“Until the next election, the new Cabinet should ideally be a cross-party team, promoting the idea of a unity government. That being said, the government could also ensure a meaningful participation of opposition MPs, but these cannot be token positions that have no real power or say,” he told FMT.

He said professionals and experts must be included to solve health challenges as well as economic pressures.

Mohamed Aslam Haneef.

Aslam said the old model of racial politics had created unintended consequences, including inefficiency, waste, leakages and corruption.

“The system not only created a middleman culture that promoted a rentier class, people who get their share by doing nothing productive, it polarised society between ethnic groups and created new marginalised groups,” he said.

The new Cabinet must be able of instilling confidence among the public and investors.

He said the old model of divisive politics had led to a serious economic crisis.

“Poverty has risen, income and wages have fallen, micro and small businesses have closed and investment is at an all-time low. Old divisive politics and incompetent management of economic policy are also to blame for these failures.”

He suggested that a model similar to the social market economy, which recognises the role of the individual or market but with social balancing, be adopted to put the country back on track.

“This model needs to stress a more humane and ethical framework. One’s economic decision-making must include care for others. Individual gain must be balanced with social responsibility. If we can adapt to this model successfully, it could become the basis of a genuine Malaysian model for the future.” - FMT