Real economics is by its very nature political

According to one line of BN's propaganda, the issue of fuel price hike should not be "politicised" because it is purely an economic question. This is certainly an unscientific and outdated argument.

For those of us who have gone through intellectually rigorous studies in the First World universities, there is no such thing as "pure" economics because:

1. Makers of economic policies and measures are human beings with specific or concrete social class backgrounds in terms of his or his group's material interests and biased value-system;

2. Economic policies and measures have to be enforced by political powers which are held by men and women with specific or concrete social class backgrounds;

3. In all polities, there are more than one social class and their economic interests and values often differ or even in conflict;

4. Conflicts of economic interests and values are balanced through the medium of political powers, including political powers of the masses, counter-elites and anti-elites;

5. Elites and non-elites compete to control limited public resources and set priorities of public expenditures. (Why cut fuel or health care subsidies, not spending on arms race? Who make the final decision?)

So, there is no economics as such but only political economics in the tradition of Adam Smith, David Richardo, Karl Marx and John Keynes.

The spring of our discontent
http://www.malaysiakini.com/columns/47865

Play down public fury, press told
http://www.malaysiakini.com/news/47914