In the 1970s, Milton Friedman talked about the purpose of a corporation. He argued that a corporation had only one purpose — to make profits for its shareholders. For over three decades, this was the prevailing logic in the global economic system. But after the…
In economics, halal should be beyond food. This is what I gathered from Prime Minister Datuk Seri Anwar Ibrahim’s thought when he gave a speech at Global Halal Summit. He made three important points. First, “maqasid syariah” (higher purpose) shapes not only the halal sector…
Let me begin with a small but meaningful change instituted by the Minister of Natural Resources, Environment and Climate Change Nik Nazmi Nik Ahmad on batik and building temperature. Yes, wearing batik to work. In the early weeks of Datuk Seri Anwar Ibrahim’s premiership, he…
A fresh look at the immense potentials of Greater Johor Bahru, also known as the Iskandar region, would serve as the catalyst for Malaysia’s second economic takeoff. Greater Johor Bahru should be positioned as the nation’s second metropolitan after the Klang Valley, and to achieve…
For Malaysia to hold its social fabric coherently, and, more narrowly, for the Unity ticket to win the 16th General Election, economic policies must be shaped to result in general prosperity from the bottom up. A clear economic message has emerged from the recent six…
I refer to the “Madani Economy: Empowering the People” launched by Prime Minister Datuk Seri Anwar Ibrahim this morning. It is a clear indication that the government is ready to chart a new future in order to bring Malaysia to the next level, to be…
LABOUR crunch seems to feature prominently in the conversation among employers, even after the government has relaxed restrictions on hiring foreign labour. Employer organisations are even talking about prisoners and refugees as potential workers. The most interesting development is when some employers are willing to talk…
The story of Malaysia’s Look East Policy is as much about Japan’s postwar relationship with Southeast Asia as it is about Kuala Lumpur’s search for its post-colonial place in the world in the early 1980s. Forty years later, the affinity and friendship between Malaysia and…
LABOUR IS FINITE, especially in the context of Malaysia which has not had a demographic dividend since two decades ago. Malaysian employers and policy makers need a paradigm shift to invest in productivity and to be willing to pay for skills. Employers in Malaysia often…
Let me refer back to my conversation with the aforementioned tycoon in part one of my essay. Paying the workers well by making structural changes to the labour market will admittedly require a lot of political will, a strong consensus with capital owners and a…