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Shock Therapy II Revisited

Author

Listed:
  • LIM Chong Yah

    (Division of Economics, Nanyang Technological University, Singapore 637332, Singapore)

Abstract

In 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.

Suggested Citation

  • LIM Chong Yah, 2012. "Shock Therapy II Revisited," Economic Growth Centre Working Paper Series 1204, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
  • Handle: RePEc:nan:wpaper:1204
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    File URL: http://www3.ntu.edu.sg/hss2/egc/wp/2012/2012-04.pdf
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    More about this item

    Keywords

    Economic restructuring; income inequality; labour market;

    JEL classification:

    • O29 - Economic Development, Innovation, 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

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