Sunday 8 July 2007

Gap Between Rich and Poor

Just a quick tip people; did you know that the richest 20% of Malaysian society owns 54.3% of it's wealth?

This information was sourced from the Human Developement Report 2006 done by the UN.

I dunno bout you, but I was shocked when I saw this. Apparently Malaysia has one of the highest income disparities in South East Asia. Something should be done about this widening gap between the rich and the poor.

Whichever way this problem should be handled, I'm more in favor of a market based approach instead of the usual bumbling government approach and it's bureaucracy. Restrictions on business should be lifted to encourage more people into this area which in turn will raise employment levels as well as raise the competition for competent workers, which in turn will drive wages higher.

Any other suggestions as to how we can tackle this growing problem?

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