Economists in the house: Analysing Malaysia’s Budget 2021

This webinar was organised by Gabungan Bertindak Malaysia.


  • Prof Jomo Kwame Sundaram, senior advisor, Khazanah Research Institute
  • Frederik Paulus, senior fellow, Penang Institute

Moderator: Farhana Roslan, visiting fellow, Refsa

The session begins at 2:28

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Phua Kai Lit
Phua Kai Lit
30 Nov 2020 6.32am

Has capitalism, in its various versions (e.g. neoliberalism) ever changed ? It won’t — until robotics and AI have advanced to the stage where humans can be replaced almost completely by intelligent machines. Then, the wealthy ruling class elites will need large “forces of law and order” (police and the military) to keep the impoverished and jobless masses under control.

Countervailing forces ? Multi-ethnic democratic socialist political parties that push for minimum wages, UBI (Universal Basic Income), the Welfare State, laws that crack down on tax avoidance and tax evasion by the rich, labour laws that protect the health and rights of working class people ……. based on alliances of middle class and working class people.