After 61 years of institutional, cultural, economic, societal and political path dependence, surely there was going to be a J-curve for the new government.
All tagged Pakatan Harapan
After 61 years of institutional, cultural, economic, societal and political path dependence, surely there was going to be a J-curve for the new government.
What if the outcome most preferred by the median voter is a poor outcome? Say, Brexit.
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.
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.