COMMENT | Expose crony capitalism, time for unexplained wealth law

COMMENT | So Malaysia has made the podium with a top-three finish!

Unfortunately, it’s nothing much to be proud of as our beloved country has been ranked third out of 43 countries in the 2023 crony-capitalism index recently published by reputed financial publication, The Economist.

This is no surprise to anyone who understands how our economy has worked. Our policies did not really help the masses as much as they could have but have instead created an elite class of extremely rich individuals who engorged themselves during the country’s boom economic period.

One need look no further than the barbs being exchanged by former premier Dr Mahathir Mohamad and his nemesis Anwar Ibrahim as the two are squabbling all the way to court.

Mahathir filed a RM150 million lawsuit over claims that he amassed wealth for personal riches while in power.

He also stated that all his children are individuals who succeeded in the world of business without his intervention or any abuse of power by him as a then-prime minister.

I say let’s settle this through the courts indeed, but not through this kind of suit. I think what this country really needs is a law allowing for an investigation into unexplained wealth.

For example, if you were a civil servant and worked for 30 years...