in reality, Malaysia’s main problem is not so much that costs are getting higher — this is true everywhere. Our main problem is that incomes are not rising as quickly and this is where the bulk of our attention should be
All in Policy
in reality, Malaysia’s main problem is not so much that costs are getting higher — this is true everywhere. Our main problem is that incomes are not rising as quickly and this is where the bulk of our attention should be
And so, here is a list of eight (completely arbitrary number) “indie” public goods that we think would make Malaysia — or in some cases, at least our immediate neighbourhoods — a better place to live for all.
As such, as the government prepares for the final round of rationalising RON95 subsidies, it would do well to make “good enough” policy decisions — which is how life and evolution work anyway — rather than technically perfect policy decisions
We must understand that trying new things means that some will fail, and that what is important is that we must fail in a way that allows us to move forward.
Taking the position as chair of Asean in 2025 requires some prioritisation of what is a national issue versus what is a regional or even global issue. Climate, electrification, food, regional geopolitical security, may be some of these issues, but what else?
Therefore, it isn’t that less bureaucracy is a good thing; we just need a high-performing bureaucracy. We really need to quit sabotaging our organisations, public and private.
That said, as mentioned, cash transfers to compensate for subsidy rationalisation address symptoms, not causes. The key challenge we need to tackle remains a cost-effective, reliable and well-connected inter- and intra-city public transport system.
But now, if we plug these unprecedented initial conditions into Chaos Theory, where weather patterns can fluctuate immensely, the logical inference is that we will see ever more variable and unpredictable weather conditions even in seemingly “stable” zones.
Many key ingredients of economic development require long-term planning, a greater tolerance for the long-term (patience) means that these ingredients may get to be fully cooked as well.
Therefore, it’s never “only the private sector should be in business” or “the government should always intervene in business”. Reality is far more complex and there are certainly pockets of market failures where the government does have a more direct role in economic activities.
The point of the article was to figure out, in a somewhat tongue-in-cheek manner, some better indicators for Malaysia’s economic development as opposed to the more popular ones. And so, in a further adaptation of Blattman’s concept, I have proposed a further 10 “indie” development indicators.
…maybe we can go some ways into setting ourselves up for the future amid a really trying global environment and, maybe unlike my theory about my own fortunes, it can be all uphill from here! And if we are even more lucky, we might come out of this far, far stronger. Maybe we could be like Mike.