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The Turbulent Years (Part 4: Statutory Reserve Requirement)
Written by Ismail Hassan   

I must admit that my essay last week on monetary policy and interest rate was, at the very best, boring. It was akin to a boring academic paper presented in a similarly boring academic colloquium that is being attended by equally boring academicians who are waiting to present their identically boring papers. But that's what boring academicians like me do; so I suppose that's reason enough not to be apologetic.

It seems ironic that as an academician I don't particularly enjoy reading academic materials, so I can imagine the torture some of my readers have to endure when going through about 2000 words of an almost substance-free essay. Incidentally, academic is regularly related to intellectualism and knowledge but it can also be associated with irrelevance and uselessness. The line separating them is so thin that it is difficult to decide if an academic essay is a great expression of thought or if it is simply a great heap of garbage. Today I'm presenting the fourth part of what is becoming a series of dull stories but I hope that inside this big mound of trash is something worthy for my readers.

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The Turbulent Years (Part 3: Monetary Policy)
Written by Ismail Hassan   

Last week I shared a brief history of the global economic crisis that affected Malaysia in the late 1990s and into the early 2000s. The economy was in recession - businesses were not producing and people were out of jobs.

During such recessionary periods, the government will initiate steps to jumpstart the economy. I explained briefly last week how the government could use the instruments of fiscal policy, specifically Government Purchase and changing the tax rate, as a strategy to bring about more economic activities. I admit that it was a boring and highly academic story which was very unlike most of my other stories. But to be frank, all my other stories are equally boring actually but at least they weren't too academic.

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