Monday, 2 November 2020

Political elasticity from Jamus Lim



For someone 'full of compassion', who came to lecture the House on the need to be compassionate, Jamus Lim has clearly not given much thought to the minimum wage.

He did not even know the minimum wage proposed in his own party's manifesto. He came to give a lecture on compassion over efficiency without any idea what the minimum wage should be
It took him 2 months to discover that his party proposed $1300 TAKE-HOME minimum wage.
It is quite clear that Jamus prefers to impress with economics and economic theories and studies.
In economics, elasticity is the measurement of the percentage change of one economic variable in response to a change in another.
Andy See was spot on when he described Jamus' extraordinary transition from "don't know" to "gross pay" to "take-home pay" as political elasticity. LOL

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