The underlying reason behind Malaysia’s vulnerability to a halt in production — via measures such as the Movement Control Order — is because large chunks of its jobs do not lend themselves to the possibility of working from home.
All in Policy
The underlying reason behind Malaysia’s vulnerability to a halt in production — via measures such as the Movement Control Order — is because large chunks of its jobs do not lend themselves to the possibility of working from home.
Historical discrimination can have serious contemporary consequences via arcane laws or outdated organisations. We need to be more critical of institutions, however “fair” they may purport to be.
AUTOMATION THAT DISRUPTS EMPLOYMENT WITHOUT A CORRESPONDING BOOST IN PRODUCTIVITY ARE LABELED AS ‘SO-SO’ TECHNOLOGIES. AS WE CONSIDER WHAT FORMS OF TECHNOLOGY WE WANT TO SUPPORT AND PUSH FOR, WE NEED TO BE MORE NUANCED.
All this is important as we embark on the new wave of economic policymaking. Either go big or stay home.
Culture clearly matters and, unfortunately, culture is something that is super difficult to change overnight, especially a culture of tradition.
Are we prepared to handle the inevitable social fallout from greater automation, as well as the difficult decisions arising from creative destruction?
The choice of what economic activities to pursue – and therefore, what things to export – is the domain of Industrial Policy.
Approaches to tackling inequality need to take into account the larger picture of national development. We cannot miss the forest for the trees.
Once something is ‘conventional wisdom’ or a ‘norm,’ and if that something manages to persist over time, it can be extremely difficult to break from that norm. It is why change is so difficult.
There is no magic silver bullet that will solve inequality of income or opportunity. Instead, we should be prepared to invest in a holistic way to address inequality in society.
Historically, inequality never dies peacefully. Can we reverse the trend of history or are we doomed to repeat it?
No true change and reform is straightforward. But markets, in almost all cases, prefer stability and the status quo – what is going on in Malaysia may be anathema to markets.