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Title page 1
Contents 1
Abstract 2
Acknowledgments 3
1. Introduction 4
2. Malaysia's Economic Success: Miracle versus Paradox 10
3. Focus Group Analysis 23
3a. Methodology 23
3b. Findings: Qualitative Account of the Malaysian Miracle 26
3c. The Downside of Progress 29
4. Discussion 40
4a. Relative versus Absolute Income 44
5. Conclusion - Polanyi and/or Hirsch? 49
References 53
Appendix 59
Appendix Data Note A 59
Appendix Note B: Revisiting the dissonance between incomes and prices 62
Tables 19
Table 1. Decomposition of income inequality by ethnic group, 2004-2016 19
Table 2. Research Domains and Questions 24
Table 3. Focus Group Level Responses on Improvements in Living Standards 27
Table 4. Focus Group Level Responses on Decline in Living Standards 29
Table 5. Individual Responses to the Question: Compared to five years ago, is your life harder, easier or is there no difference? 33
Table 6. Survey of Relative versus Absolute Income 44
Figures 12
Figure 1. Trends in GDP per capita (constant 2010 US$), 1960-2019 12
Figure 2a. Poverty rates (headcount ratio) by ethnic group, 1970-2019 14
Figure 2b. Mean real household income, national and by ethnic group, 1970-2019 14
Figure 3. Poverty headcount ratio at different poverty lines, 1970-2019 15
Figure 4. Long-term inequality trends based on relative versus absolute Gini of income per capita, 1970-2022 18
Figure 5. Income growth incidence curve for Malaysia, 1984-2019 21
Figure 6. Trends in Life Satisfaction and Happiness 22
Appendix Tables 60
Table A1. Region and ethnicity-wise breakdown of FGDs 60
Appendix Figures 63
Figure B1. Employment income growth incidence curves for Malaysia, 2004-2016 63
Figure B2. Trends in median monthly employment income, 2004-2016 64
Figure B3. Trends in number of income earners per household and people holding multiple jobs 65
Figure B4. Trends in CPI, EPI and PePI , 2016-2021 68
Figure B5. State-wise Trends in CPI, 2012-2020 68
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