DOI: 10.5176/2251-2403_PSSIR12.50
Authors: Chan Ai Reen, Khairiah Salwa Mokhtar and Paramjit Singh Jamir Singh
Abstract: The objective of this paper is to increaseunderstanding of the role of New Economy Policy (NEP)and its implementation. It also aims to identify andanalyzes the interconnected consequences in terms ofeconomy and politics throughout the NEP’s life span.This paper using secondary data such as academicliterature, journal articles, internet journal and booksthat related to the subject reveals. All the data resourceswill be utilized in order to evaluate the positive andnegative consequences that had been formulatedthrough the implementation on NEP. As a conclusion,this paper found that the NEP was success in achievingits objectives in restructuring the economy by raising theliving standards of the Bumiputeras’. Further, thispaper provides an insight into Malaysia economy andpolitic in which the NEP has been developing in term of:(1) generating new sources of wealth and increased theproductivities, (2) the emergence of money politics directand indirectly influenced Malaysia economic andpolitical, (3) the introduction of privatization policysucceed to improve government revenue, and (4) the newborn Malay middle class. Policy decisions and economicdevelopment in Malaysia have often emerged in partthrough a special process of consultation betweenleading personalities in political parties and interestgroups. Quotas system which initially emerges from theNEP considerably controlled the provision ofeducational services. In order for Malaysia to move itseconomy to the service sector and improve theproductivities, it’s needed to reform the educationsystem to ensure that the whole population is benefited.
Keywords: money politics, privatization, middle class,National Economy Policy 1970
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