Shock Therapy II Revisited

Chong Yah Lim

No 1204, Economic Growth Centre Working Paper Series from Nanyang Technological University, School of Social Sciences, Economic Growth Centre

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.

Keywords: Economic restructuring; income inequality; labour market (search for similar items in EconPapers)
JEL-codes: D63 J21 O29 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2012-04
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:nan:wpaper:1204

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