inspiration

I've been reading Joseph Stiglitz's Making Globalization Work.

It has definitely made the neurons in my brain work harder. I have developed an interest in Developmental Economics. Well, I already had interest in such things, but the interest just keeps growing.

Economic policies must not be applied to any country wholesale from a template. Minor twerks must be made to accomodate each country, because every country face different issues. We can't assume ceteris paribus. Sometimes, too much assumption makes things less complicated in theory, but when applied on a real situation, it just creates such a shit hole.

Markets, government, individuals and communities work hand in hand in the development of a country. Which I totally agree with Stiglitz, I don't buy Adam Smith's invisible hand fully. I support government's fiscal reforms to lay the foundation for economic growth. Government expenditure on infrastructure, communication and legislation on commerce and trade are all crucial to ensure a society of reasonable standard of living instead of growing income disparities between the rich and the poor.

Singapore was commended on her hard stances against corruption. And also her policy of having highly paid civil servants proved to be an effective tool in stamping out corruption.

I got 4 new books to read over this holiday. Haha. I am so not going to finish reading. 3 of them are on Economics. lol