Friday, December 12, 2014

New 'Dr. M' On Inequality And Getting Lost In The Waves

“We’ve achieved unparallelled success with the NEP (New Economic Policy), but there are new challenges that need to be addressed,” he said

Sunday, December 7, 2014

Reply to a libertarian

 "...without the NEP, Malaysia could have grown faster and that the NEP caused Malaysia to grow only as fast as experienced"  

Betul ke?

Thursday, December 4, 2014

In Defense of Zeti

It must have been some miscommunication with her staff that led Tan Sri Zeti Aziz, the Bank Negara Governor, to make that remark last week about bank accounts reflecting Malaysian household savings.  When we set out the clarification on how we treated and measured households' precautionary savings and differentiated them from investments in the Malaysian Human Development Report 2013, readers' response to her were what I thought, on reading through them, somewhat misplaced

Monday, December 1, 2014

ASB, KJ and UMNO Youth

"It is common knowledge that our economic status is still at a lower level compared to other races – that’s a reality. Until today, the income of the Malays is lower than other races. Many say; Malays have Amanah Saham! But according to the latest research by Dr. Muhammed Abdul Khalid in his book Colours of Inequality, it’s ironic that our average investment in ASB is only RM 600 when the limit is RM 200,000"

NEP : The Scarlet Letter

“Critics argue that the NEP is a failure, citing that it impedes investments, retards growth and benefits only a small number of well-connected bumiputras. Their arguments are not supported by data.

Boosting wealth generation of Bumiputeras : A Jalil Hamid

ECONOMIST Dr Muhammed Abdul Khalid argued in his book, The Colour of Inequality: Ethnicity, Class, Income and Wealth in Malaysia, that age cohorts, educational level and occupation helped contribute to the wealth disparity between Malays and Chinese.
Data that he produced showed that Bumiputeras had the least wealth compared with other ethnic groups. For example, in 2009, the average Chinese household had 1.38 times and 1.25 times as much income as Bumiputeras and Indians, respectively, but in terms of wealth, the gap widens: 1.9 times and 1.5 times, respectively.
How can we close the gap?

Zero household savings is staggering, and true

We refer to statements by the Governor of Bank Negara (BNM), Tan Sri Dr Zeti Akhtar Aziz, reported on various print media on November 28, 2014, on portions of the Malaysia Human Development Report (MHDR).
She disputes our finding that over 90% of Malaysians have no savings, claiming that the analysis is "partial" and "misleading".
We thank Tan Sri Dr Zeti Akhtar Aziz for engaging with the MHDR, and for providing this opening to reaffirm our findings. Allow us to clarify the points raised by Tan Sri Zeti.