Old money: Indonesia beyond cronyism

Unimelb.edu.au: Former President Soeharto (centre) with two of the most well known “cronies” of the New Order era – Bob Hasan (left) and Liem Sioe Liong (right).

One of the most notorious aspects of the authoritarian Soeharto regime (1966-1998) was the privileges enjoyed by a small number of favoured business tycoons who were able to harvest extraordinary economic rents from monopolies and contractual rights.