Expanding On Kuda Liar Economic Theories.

 OSTB : Yesterday I referred that economy fellow saying (as per the Media) :

best to have economic system where checks and balances between politicians and economists in order to take into account all factors

OSTB : Between politicians and economists? You mean the fate of the country and the people should be entrusted to professional liars and to someone who signed up to study economics subjects somewhere ? What an imbecile and childish thought process. 

Borrowing the same il-logic, then just as a safety precaution, shouldnt the politicians and economists be evaluated by people who have read books on psychiatry  - just to make sure that they are thinking straight? Then you can say that you are going to entrust the economy to the psychiatrists (as well).

Economics is a wonderful subject but they can still debate if economics is a science or an art. They still cannot decide. 

Which is why economists always need two hands - 'on the one hand' and 'on the other hand'. They try to make the 'on the one hand' sound more 'academic' by camouflaging it with the Latin 'ceteris paribus' (all other things being equal). 

The simplest explanation of ceteris paribus  in Malay is  'macam ini pun boleh, macam itu pun boleh'. WHY? Because there is no such thing as 'all other things being equal'.  (Saya pun ada belajar sikit economics lah).

So no no no. The economic system best be left to two main players to decide - the market (the keadaan di pasaran) plus the public. Especially the voting public. Here is a fact of life - you mess up the economy and both the market and the voters will kick you out. 

 

And this has been happening since 1994 (when UMNO began losing their popularity). Now since 2018 the change of government is accelerating. Because the old Mahazalim / Mahafiraun / UMNO / Barisan Nasional policies have NOT changed. 

They have failed and they keep failing. So now we are getting a new government every 24 months or less.  And these latest set of clowns are maintaining the same old Mahazalim policies. So lets see how long they will last.

The economy fellow also said:

“If we leave things only to the politicians, they would make decisions at the people’s behest. Sometimes what the people demand are the best for the country, and sometimes they are not so good for the long term,” he said.

This is just more and more of really kuda liar economic theory. You cannot find these economic "thinking" in any economic textbook in the world. Dia sendiri tak faham apa dia cakap.

The philosophy people once argued that  "a statement is either true or false". 

Some called it "Propositional Logic - Sentences considered in propositional logic are not arbitrary sentences but are the ones that are either true or false, but not both".

Wah!! So clever.  Then someone pointed out that statement itself   "a statement is either true or false"  is also either true or false. 

So what is the point of saying things like this? On the one hand its like this, on the other hand its like that, macam ini pun boleh, macam itu pun boleh. The tale of the tail with no tail to the tale. 

Just wasting time.

"If we leave things only to the politicians, they would make decisions at the people’s behest. Sometimes what the people demand are the best for the country, and sometimes they are not so good for the long term,” he said"

I see. Ok so dont leave it to the politicians lah.
But the fellow who said this is himself a politician. Deputy president of a political party.
Other than shooting his mouth off, this is also called shooting yourself in the foot.

 

It does not apply to all people in the same country.  In the same country some people are permanently dumb. So they are permanently doomed. Other people are not as dumb. So they are not  doomed. They can prosper.

 

Step out of your cocoon and just compare yourself with your neighbours. Or compare your country with other countries.

There is an average - for that which is good. 

There is also an average for the dumb. 

So which average will you use to make your policies?

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.