Milton Friedman once visited Hong Kong in 1963. He met John Cowperthwaite, the financial secretary of Hong Kong, whom was credited for enabling Hong Kong to become Asia’s foremost financial center through his free market policy. Friedman asked him “about the paucity of statistics” in Hong Kong. Cowperthwaite replied, “If I let them compute those statistics, […]

On my way to Sydney Airport, I found myself sitting right beside a cab driver — who was probably close to 50 years of age — eager to convince me that he was an honest driver. “Pick any way you want, I go”, he said in outrageously fast but broken English. “I have map. You […]

The prime minister has said it so many times. His administration wants to turn Malaysia into a high-income country.  One of several initiatives that the administration believes can help in that direction is the introduction of minimum wage through the establishment of the National Wage Council. In promoting its supposedly market-friendly and market-driven policy, the […]

On December 7 in the Parliament, based on the Hansard, Deputy Minister for International Trade and Industry Jacob Dungau Sagan was asked whether the government intends to abolish a policy that grants exclusive permits for imports to limited entities and effectively, the granting of monopoly power to several companies over certain commodities such as sugar […]

It is easy to dismiss the triviality, for instance, of choosing a pair of high heels out of hundreds as excesses of modern life defined by free market. How does one sympathize with a dilemma of a purchaser who faces a petty option between consuming Coke and Pepsi? Such inconsequential puzzles seem so shallow for […]

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