Monday, May 20, 2013

Irrational Exuberance

It has been a trend among intellects, ones with higher-education degree among them, to reject the incumbent government. I mentioned in my previous post that to them the government is at best inefficient, and at worst corrupted. It's perplexing when these so-called intellects irrationally accept grandiose promises and visions of the future that are too good to be true. Most have been discussed in detail pre-GE13, but one example is the capability to eradicate poverty at once to ensure that after the first term every Malaysian family will have a monthly take-home household income of at least RM4,000. Can we realistically double the average per capita income in 5 years? There is a popular believe that all corruptions, lack of transparency, and dirty politics will disappear once the alternative government is in power. I've read that sometimes big companies prefer a new outsider CEO because of the mystic of the unknown - irrational expectation that a relatively unknown person could deliver surprising better results than an insider with well-known track records. Similar behavior may also explain the irrational exuberance towards replacing the incumbents. Realpolitik,  based on practicality in terms of economic stability and high quality of living instead of based on ideologies, will always prevailed.  I personally believe the effectiveness of the transformation programs by the government versus the maturing experience and track records in governance in states like Penang and Selangor will determine the story line to GE14.  Until then, remember that when it's too good to be true, it's usually too good to be true. The game is on!

Additional Comments by Ilmu Ialah Kuasa:
Right after I posted this I saw a post on OutSyed The Box blog that offers  methodical arguments and proofs that PR is not as clean as what people think: 


p/s: BN should have focused on emphasizing economic stability, experience in governance and attacking the clean-sheet perception of PR. 

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