Articulation of socio-economic equity and governance reform in a multi-racial society

Purpose The purpose of this paper is to study how the Malaysian government's new governance framework articulates socio-economic equity among multi-racial society in Malaysia. Design/methodology/approach Through archival research, governmentality and articulation theories are employed to explore how the MADANI slogan constructs shared meaning of socio-economic equity in Malaysia. Findings We found that the MADANI slogan is a technology for government that connects the interests of all races, religions and regions in the country, mobilised by government actors to rearticulate the shared meaning of socio-economic equity and inclusivity. Through the point of equivalence, the MADANI-based rationality and programmes reconstruct the shared meaning of socio-economic equity; their articulation of the point of difference reveals inequality and power differentials within society, and their antagonism strategies denounce existing governance practices. We also observed that the use of accounting discourses as antagonism strategies incites feelings of shame, fear, anxiety and hope. Additionally, our research demonstrates how budget speeches and accounting discourses around debt and liabilities were used to afford the administration a political edge over the opposition. However, our research is restricted to the examination of official government documents from November 2022, when Prime Minister Anwar Ibrahim was appointed, to December 2025. Originality/value The findings reveal the role of articulation in reshaping the shared understanding of socio-economic equity and the potential for accounting discourse to construct “new” versus “old” governance practices by affecting emotional feeling. This paper provides empirical evidence for how politicians use accounting discourses in articulating socio-economic equity and gaining a political edge within a multi-racial society in Malaysia but also in other jurisdictions that aim to build a unified national identity.