Malaysia provides for interesting paradoxes. Poverty was reduced by adopting a horizontal perspective to policy planning through affirmative action targeting one ethnic group lagging economically in society. However, outcomes of affirmative action include growing wealth and income disparities, a...

Market failure and the need for stronger state involvement in the economy has become the dominant perspective in the interpretation of the subprime crisis. After providing a brief description of the various stages of the crisis, the paper challenges this view by showing how monetary, fiscal and...