The age of intolerance Privileged class must realise its duty to the nation,the world’s economy  in crisis, two competing narratives of its sources – and appropriate remedies – are emerging. The first, better-known diagnosis is that demand has collapsed because of high debt accumulated prior to the crisis. Households (and countries) that were most prone to spend cannot borrow any more. To revive growth, others must be encouraged to spend – governments that can still borrow should run larger deficits, and rock-bottom interest rates should discourage thrifty households from saving.Under these circumstances, budgetary recklessness is a virtue, at least in the short term. In the medium term, once growth revives, debt can be paid down and the financial sector curbed so that it does not inflict another crisis on the world.

Daim zainuddin, easily the most respected Malay businessman, particularly when it comes to ethics, has said that the Malay of this nation are idolising the corrupt. This statement may come as a surprise only to those who have their eyes shut and believe only in pious platitudes about Ketuan Melayu and its Bumiputra status, being mouthed by the corrupt. We are going from bad to worse.As if the series of scandals and tales of mis-governance (or misrule) weren’t full up to the brim already, our ruling class have Shahrizat Jalil., Muhyiddin Yassin and NajibRazak .On the face of it, the goveernment’s initial move may seem exemplary, set to warn the wrong doers. But, as all observers know by now, that is just part of the story. It is simply the case of government does not have the ability to hit back even as it covers its own misdeeds.Do our politicians and babus even sit back and think about the repercussions of their short-sighted actions? Just as it has needlessly politicised the defence services through its sloppy handling
will ever be willing to be on board of any organisation, or deal with a private sector company while in service. Why should he, if the political bosses and the all-powerful (and never do wrong) administrators do not support them when in need and wash their hands completely of any responsibility? Would these four barred scientists have evaluated everything themselves ? Could they have gone ahead with the entire deal when so much money was at stake without the involvement of babus and the politicians for critical permissions? The answer to that and a lot of other questions you might have is a straight NO! But still, thanks to them never being held accountable, they will, as always, go scot-free.he drift in the nation and its governance is all too palpable. It shows a complete leadership vacuum.

That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is the feedback loop between customers and businesses. And only consumers can set in motion a virtuous cycle that allows companies to survive and thrive and business owners to hire. An ordinary middle-class consumer is far more of a job creator than I ever have been or ever will be.How does this dynamic interaction show up in the macroeconomy? Economist Alan Krueger, currently serving as Chair of the President’s Council of Economic Advisers summarized these findings in a recent speech, in a section onthe consequences of economicRELATEDARTICLEi



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