- Who knew one could make quite a bit of money selling milk from home? As Farm Fresh prepares for its upcoming IPO, it is good to see businesses that are still anchored on the idea that business can actually help people to improve their lives. There has been a lot of skepticism, of late, in the enthusiasm of capitalism to embrace a more stakeholder-oriented stance, but I suppose it all depends on your intention: to truly embrace togetherness and shared prosperity, or to merely employ such rhetoric to mask baser motives of greed and exploitation.
- It is a common cycle throughout the history of innovation and technological growth: a new technology platform arrives on the scene – it could be petroleum as a source of energy, or electricity as a means to power machinery, or the Internet as a means of sharing information – and those most well-placed to gain from the rapid advancement and growing profitability of such technologies begin to gain outsize advantage and eventual domination: the Rockefeller oil trust, General Electric, or Google and Facebook. Eventually, burgeoning profitability and market share leads to outsize influence and power, and dominant players find themselves increasingly tempted to wield monopolistic power in their favour. And then, the backlash begins. In recent days, a whistle-blower has made her voice heard, and there is growing consensus that dominant tech giants like Facebook and Google will need to be reined in. Competition eventually becomes normalised, until the next cresting of a new technology…
- I believe that when historians look back at the politics of the late 2010s, there will be a huge collective sigh of relief that while Trump was certainly an influential and talented demagogue, his own incompetence and lack of discipline made sure that the damage he could actually inflict on America and the world was relatively limited. Could a more capable wannabe-tyrant have done differently? In my mind, highly likely. We are not yet at the endgame of the current epoch of this collective and corrective backlash against the excesses of capitalism and inequality: for that, we need a 21st century FDR to emerge, so that the inchoate demands for better justice and fairness can cohere into a set of much-needed policy reforms that will shape the world anew.
Three Things I am Thinking about Today #3
- Biden is setting a new goal for global vaccine equity: 70% of the world to be vaccinated by next year… which is already a stated goal by the W.H.O. “The U.S. wants to be engaged,” French virologist Dr. Marie-Paule Kieny said in response to this development, “but they still don’t know exactly how to engage with the new world that has developed while they were away.” Isolationism is not just a plaything for Trumpian political appeal: it has a real cost, on real human lives.
- The “bloated” size of the Malaysian civil service has been a favourite topic amongst opposition politicians of the past several decades, so this take on the size of the civil service is a pleasant surprise. Granted, the PSM would certainly have a bias for stronger public services. But at a time when much attention is being devoted to the Government’s operational expenses – and the heavy cost of civil servants’ emoluments – it would be interesting if a more nuanced position can be staked out on this long-running debate.
- Another taper tantrum ahead? At least it is good to know that the recovery seems to be progressing in earnest. But with concerns over Evergrande and the punishments being meted against Chinese businesses, a tapering could lead to oversized shocks for developing economies.
Three Things I am Thinking about Today #2
- Another anti-Trump politician is self-purging himself from the Republican Party, asking himself, ““You could fight your butt off and win this thing, but are you really going to be happy?” I wonder if a similar trend might soon take place in Umno. The Bossku phenomenon suggests that Umno is at a crossroads: will the party turn back towards the middle ground, and reclaim the popular vote that it has progressively lost since 2008? Or will Umno stay in its current hard-right corner, justifying corruption and grand larceny in the name of Malay supremacy?
- The fact that an 84-year old Ku Li is still a “player” in Umno – the party of Tunku and Tun Razak and Tun Dr. Ismail – shows the depths of the party’s current lack of leadership talent.
- China trolls its Pacific neighbours, even as the US tightens its focus on Asia with its recent Aukus deal.
What I’m Reading Lately – Mon 6 IV 2020
- If you are Malaysian and you have loans to pay, this is a good read.
- When people are angry and frustrated at their political leaders (whether rightly or wrongly), there often comes a time when the finger-pointing leads the public to assign (usually disproportionate) blame to the leaders’ advisors (especially when public criticism of the leader invites punishment): the Tsar’s Rasputin, the recent fascination with Dominic Cummings amongst Guardian columnists, and Pak Lah’s own Fourth Floor are examples of this. It seems Trump now has his “Slim Suit crowd” as another target for the wrath of the many people who cannot wait to vote him out in November.
- Some times I wonder: are Malaysian politicians just really unlucky? Were they tripped up by hapless advisors (see my earlier point above)? Or were they sabotaged by hidden hands? Or maybe Ockham was right, and the simplest explanation is like the most correct: that we just have too many inept folks in our political class.