I really get upset when a US economis graduate like Syed Akbar Ali make such stupid comments that are anti minimum pay.
Every developed nation, not only gives minimum pay, but they also give social security money if you do not have a job. That is the type of country that every rakyat in the whole world wants. That would be the ideal political and economic position of every nation.
We in Malaysia are still NOT implementing minimum pay but implemeting adjusted pay due to ringgit devaluation of 1998.!!!
Since 1998 the ringgit has devalued by 150%. Prices of goods had risen to adjust for the rnggit devaluation. yet the labors pay had not been revised or adjusted due to the ringgit devaluation.
The government has approved the minimum pay of RM900.00 This is merely the adjusted pay of RM300.00 x150% devaluation of the ringgit = RM900.00.
The real minimum pay is about RM2000.00 after adjustements due to cost of living.
OutSyedTheBox said :
For those of you who read my Blog regularly I have pointed out again and again and again that the Minimum Wage bill will create massive unemployment, especially among Malays and bumiputras It will also cause very high inflation.
Note:the full article is @...
Pak Yeys reply :
That is a stupid assumtion with no proof whatsoever.
The minimum pay of RM900.00 is equivalent to RM300.00 in real value immediately after the ringgit crash of 1998. The Singapore dollar, originally a Malaysian dollar is the real value of the ringgit at S$2.50 per RM1,00. It means that ouyr ringgit is 150% devalued. So to make up for the devaluation of ringgit the pay should be raised to RM900.00. this is not minimum pay but the real pay after the devaluation of the ringgit.
Remember, Mr OutSyedTheBox, the emp;loyer is not paying more salary. The emp;loyer is paying the same value of money in terms of the American dollar..
Please use your brains OutSyedTheBox.!!!
Americans used to pay RM300.00 salary before the rnggit devalied by 150%.
So after the devaluation by 159% paying RM900.00 is the same as paying R300.00 when converted to the American dollar.
I am supprised
how you can omit the devaluation of the rnggit in your support for DrM's
"no minimum pay" policy.
Have you graduated by giving kopi o for your
Common OutSyedTheBox All developed nations have minimum pay.lah. !!!
How can Malaysia be a developed nation without minimum pay by giving the cheapest pay???
Malysia would be a 3rd World failed nation, if they do not have minimum pay.!!!
You allow your people to be exploited /enslaved by Capitalis Corporations and Nations, if you do not have minimum pay.!!!
You thing paying RM300.00 will develop Malaysia. the workers.???
Worker payed RM300.00 dont even have enough to eat to live.!!!
Why dont you OutSyedTheBox try living on RM300.00.???
You only get monkeys and malnourished workers if you pay peanuts, without minimumpay.
Youy and Dr M are soo outdated in economics.!!!
Please go back to kindergarten to learn to count properly.!!!
Please read more of my debate with your Guru Dr Mahathir @ ...