COMMENT | Yes, please, give me RM1 million to spend

Thor Kah Hoong

21 Nov 2020, 12:23 am

Updated 9 d ago


COMMENT | There is no such thing as a free lunch – that was the reminder by Employees Provident Fund (EPF) CEO Tunku Alizakri Raja Muhammad Alias in reference to the need to sell off assets to make funds available to depositors withdrawing from their Account 1 and Account 2.

True, but all of us would be able to afford lunch (and dinner) if the government were to take up the brilliant suggestion of Youth and Sports Deputy Minister Wan Ahmad Fayhsal Wan Ahmad Kamal to help the people by forgiving debts and "printing money".

In a radio interview, the deputy minister proposed a "helicopter money" policy "where the central bank can directly print money and give it to the people so that they can spend it".

Poor fella – got challenged, criticised, and mocked for his humanitarian proposal to end hunger and belt-tightening, at the same time fueling the economy with an explosion of voracious consumption.

What’s not to like about the idea? Let me flesh out the deputy minister’s suggestion. I can see many positives and only one minor downside...

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