For the most part, my conclusion is that they are worse off and that says a lot about institutions, public institutions more generally, and their development. It was as if the potential of the economy took a dip and flattened the growth of the economy thereafter. The rents it created and its increasing exclusiveness tarnished both public institutions and the private sector in deleterious ways. And the thing is, it is the pre-Merdeka generation that has benefited most from it and they headed the various institutions in the country. The world that we live in has become more competitive and requires better and stronger public institutions and firms, but we did not deliver on this key mission.
Source: The Edge Markets May 04, 2021 04:07 UTC