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.
All tagged innovation
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.
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.
Without attempting something bold, our every social, political or economic possibility will always be “20 years away” or some faraway vision for us to achieve.
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?
While I will discuss the gist of the paper, I strongly assert that every policymaker and development policy researcher in Malaysia should spend some time and read the paper for themselves
Malaysia’s transformation must go beyond projects and policies – it must embrace the technological super-cycles that shape global economic history.