FROM COLONIAL POLITICAL ECONOMY TO MALAYSIA MADANI: TRACING THE EVOLUTION OF HUMAN-CENTERED DEVELOPMENT THROUGH THE THOUGHT OF UNGKU AZIZ

Authors

  • Muhammad Suhaimi Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia Author
  • Fuadah Johari Islamic Finance and Wealth Management Institute (IFWMI), Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia Author
  • Zul Aizat Hamdan Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia Author

DOI:

https://doi.org/10.33102/rp2qzr67

Keywords:

Human-Centered Development, Ungku Aziz, MADANI Economy, Malaysian Development, Political Economy

Abstract

The article examines the intellectual framework of Ungku Aziz in the development of Malaysia's story from colonial times to the present day under the leadership of the MADANI administration under Anwar Ibrahim. It claims that Malaysia's economic development is a gradual shift from a growth-oriented political economy to a more human-oriented developmental approach. In the colonial era, economic systems were mainly geared towards external capitalist interests, leading to socio-economic disparities and rural poverty. Since independence, the successive governments from PM1 to PM10 have adopted different national development policies such as the New Economic Policy (NEP), National Development Policy (NDP), Vision 2020, the Shared Prosperity Vision and the MADANI framework, which are all different approaches of the government towards development and social well-being. This study uses a qualitative archival approach to examine policy documents, Malaysia Plans (RMK), speeches, institutional reports and selected writings of Ungku Aziz, to trace the historical development of development thought in Malaysia. The article focuses on the fact that Ungku Aziz's thoughts on poverty eradication, distributive justice, cooperative economics and human dignity were prescient of the current Human-Centered Development (HCD) discourse. The study finds that the development discourse in Malaysia is becoming more human-centered, especially in the recent policy discourses linked to the MADANI framework.

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Published

2026-10-29

Conference Proceedings Volume

Section

Economics, Accounting, and Corporate Governance

How to Cite

FROM COLONIAL POLITICAL ECONOMY TO MALAYSIA MADANI: TRACING THE EVOLUTION OF HUMAN-CENTERED DEVELOPMENT THROUGH THE THOUGHT OF UNGKU AZIZ. (2026). IBAF E-Proceedings, 12(1), 285-306. https://doi.org/10.33102/rp2qzr67