I think I’m not cut out for economics. I’m too much of a socialist. Heck, when I took the Political Compass test at politicalcompass.org for the first time, I was practically a raving communist. After one and a half years of A-level Economics, I retook the test and am now classified as a centrist, but on the left side. But deep down inside, I care more about equality than efficiency. Maybe it’s because I don’t understand the concept properly. Look, I don’t give a damn about the efficient allocation of resources, as long as I have a bloody job. I resent people who think that government intervention is the deadliest of the seven deadly sins.
But I contradict myself at times. I get mad at the government when they try to control the price of roti canai (a local delicacy, sold by hawkers everywhere; monopolistically competitive) while allowing monopolies like our cable television network to increase prices as much as they want. At the same time, I get mad at people who think that government subsidies to multinationals is wrong because ‘it distorts markets’.
See, I respond to incentives. I’m always looking at things from my point of view, not objectively. To me, roti canai is a small fraction of my expenditure and any increase is unlikely to have a big impact on my spending. So I’m happy to let market forces determine the price of roti canai. But I want multinationals to invest in my country, because I need a job when I graduate. I’m not being objective. And I get angry too easily. I’m a rebel without a cause.
Sorry for the angst-ridden post.
