Shock Therapy II Revisited
AbstractIn this presentation, Professor Lim Chong Yah revisits his original proposal for “Shock Therapy II”, paying particular attention to the need to have a pause for three years for the very top income-earners with a view not to slide into “unconscionable salaries”. He also outlines the need to consider the introduction of minimum wage, should NWC’s quantitative guidelines fail to exit workers with income less than $1,000 a month in two years’ time.
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Bibliographic InfoPaper provided by Nanyang Technolgical University, School of Humanities and Social Sciences, Economic Growth centre in its series Economic Growth centre Working Paper Series with number 1204.
Length: 18 pages
Date of creation: Apr 2012
Date of revision:
Economic restructuring; income inequality; labour market;
Find related papers by JEL classification:
- O29 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Other
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-01-07 (All new papers)
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