May 07, 2011

Requiem for an Economist


I have pasted this lock ,stock and barrel from the online NST.

" DATUK Dr Zainal Aznam Mohd Yusof, a member of the National Economic Advisory Council, died on April 30 at the age of 66.

He contributed immensely to the nation as an ,playing a key role in the building of the economy and development policies.

Thus, it was fitting for him to be chosen as a member of the council, within which his untiring energy for narrowing economic inequality was reflected in the New Economic Model (NEM).

His forte was addressing disparities, poverty and income distribution.

He was concerned about the widening gap between the rich and the poor, and the plight of the bottom 40 per cent of households.

These efforts left a great impression on those who worked with him.

Zainal Aznam guided much of the work of the council in the two areas. He was critical of the problems associated with the implementation of certain policies but did not lose sight of the need to reduce inequality.

While recognising that there would be resistance from vested interests, he advocated a pro-poor, ethnically-blind affirmative action approach to helping the bottom 40 per cent of households, in line with the NEM goal of inclusiveness.

For him, it was imperative to address the inequality within and between ethnic groups, between regions, and between urban and rural areas.

But he also believed that for wealth to be fairly distributed, it must first be sustainably generated.

He was eager to see that his ideals were achieved, since he had been involved in the country's economy for 38 years.

He participated in the preparation of the first and subsequent industrial master plans. He also contributed to several Malaysia development plans.

He had long been involved in economic research and policy development departments and committees.

Thus, it was understandable that he wanted to see to it that his pursuit of addressing the widening gap between the rich and the poor would culminate in policy initiatives that could be carried out, like those he worked to include in the NEM.

His passion for statistical figures was a key element of the analytical tools he applied to diagnose the health of the economy. His obsession with improving the lot of the low-income group was amply documented with statistical and graphic representation, which brought to the fore the plethora of disparities that existed among the poor.

In his article Secret Lives of Statistics, he wrote: "Numbers count. Serious economists need statistics if they are to be counted and taken seriously. What have been the most seminal and outstanding statistics that have appeared so far for over the past 38 years, was the statistics on the incidence of absolute poverty, the inter-ethnic income disparity, overall income inequality and the ownership of share capital of Bumiputeras because of their wide repercussions and controversial, too."

He held a doctorate in Economics from the University of Oxford, besides having served in the government and private sectors.

He served on boards and teams at Harvard University, Keio University in Japan and at the Korea Institute for International Economic Policy.

He was a visiting scholar at the Harvard Institute for International Development, Harvard University and a consultant to the World Bank looking into the political economy of poverty, equity and growth.

He was a modest and humble person and we admired his dedication to an exercise regime as an athlete and fitness enthusiast, even as the demands of tough discussions in the council took a toll on his time.

He was a hardworking person and spared no efforts on thorough research while delving deeply into topics or issues prior to talking with conviction on the subjects.

He was concerned about maintaining impartiality and a non-partisan view, and it would be near impossible to get his vote or show of support if the issue did not meet his high standards.

In Zainal Aznam, the council had a colleague who was not afraid to speak his mind and yet allowed for disagreement and dissent.

When the council convened its inaugural meeting, he made it clear that the minutes should capture all viewpoints, however unpopular or controversial they might be.

Always looking debonair in his suit, he put forward his arguments eloquently and convincingly.

The council members will miss his wise counsel and contrarian views where they matter.

This tribute was written by the National Economic Advisory Council, Putrajaya."

So, we say sayonara to one contributing son of the nation.

May his soul rest in peace.