Economic Insecurity in the Malaysian Context.

The abrupt end of economic growth in Malaysia has created a new mood of insecurity. However, "economic insecurity" is rarely discussed in the professional economics literature and has received little emphasis in recent economic policy making in OECD nations. This paper argues that economic insecurity should receive more attention, because it affects social and political stability, and influences individual well-being, personal identity and labor market behavior. The paper discusses the differences betweeen "economic insecurity" and "risk", before turning to a discussion of how best to measure economic insecurity.