In this presentation, Professor Lim Chong Yah revisits his original proposal for “Shock Therapy II”, paying particular attention to the need to have a pause for three years for the very top income-earners with a view not to slide into “unconscionable salaries”. He also outlines the need...

In this paper, Professor Lim first discusses the circumstances that led to the urgent need to embark on the Economic Restructuring I in 1979 and assesses the modus operandi used then to achieve the restructuring objective. He then compares the changed circumstances of today’s economy, which...