Portal:Business

The Second Malaysia Plan was an economic development plan set out by the government of Malaysia, with the goal of implementing the aims of the New Economic Policy. It aimed to "restructure" Malaysian society and overturn Chinese Malaysian and foreign hegemony in the economy of Malaysia so that the Malays would not be disadvantaged economically. Although the First Malaysia Plan had also set out to tackle the problem of poverty, especially among the Malays, it had not been very successful, and may have been a factor in the May 13 Incident when racial rioting broke out in Kuala Lumpur. The Second Malaysia Plan was regarded by some as excessive in its zeal to increase Malay participation in the economy, and the government accordingly scaled back the emphasis on restructuring the economy when the plan ended.

Metro Manila, the economic center of the Philippines

The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.

The Philippine economy is a service-oriented economy, with relatively more modest contributions from the manufacturing and agriculture sectors. It has experienced significant economic growth and transformation in the past, posting one of the highest GDP growth rates in Asia. With an average annual growth rate of around 6 percent since 2010, the country has emerged as one of the fastest-growing economies in the world. The Philippines is a founding member of the United Nations, Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, East Asia Summit and the World Trade Organization. The Asian Development Bank (ADB) is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila.

The country's primary exports include semiconductors and electronic products, transport equipment, garments, chemical products, copper, nickel, abaca, coconut oil, and fruits. Its major trading partners include Japan, China, the United States, Singapore, South Korea, the Netherlands, Hong Kong, Germany, Taiwan, and Thailand. (Full article...)

" My dear Bowley,

I have not been able to lay my hands on any notes as to Mathematico-economics that would be of any use to you: and I have very indistinct memories of what I used to think on the subject. I never read mathematics now: in fact I have forgotten even how to integrate a good many things.

But I know I had a growing feeling in the later years of my work at the subject that a good mathematical theorem dealing with economic hypotheses was very unlikely to be good economics: and I went more and more on the rules---(1) Use mathematics as a short-hand language, rather than as an engine of inquiry. (2) Keep to them till you have done. (3) Translate into English. (4) Then illustrate by examples that are important in real life. (5) Burn the mathematics. (6) If you can't succeed in 4, burn 3. This last I did often.

I believe in Newton's Principia Methods, because they carry so much of the ordinary mind with them. Mathematics used in a Fellowship thesis by a man who is not a mathematician by nature---and I have come across a good deal of that---seems to me an unmixed evil. And I think you should do all you can to prevent people from using Mathematics in cases in which the English language is as short as the Mathematical. ....

I find mathematicians almost invariably follow what I regard as Jevons' one great analytical mistake, his eulogy of the Geometric mean in general: and do not see that, according to his use, erroneous weighting may do far more mischief with the Geometric Mean than with the Arithmetic Mean. I always have to spend some time in convincing them of the danger.

Your emptyhandedly,"

—Alfred Marshall, Letter to A. L. Bowley, 1906

• ... that Dolly Johnson, who had once been a slave of 17th U.S. president Andrew Johnson, opened her own bakery business in 1881?
• ... that John Blackinger quit his job as the general manager of a professional football team to work in the dairy business?
• ... that Francois Massaquoi, who studied economics at New York University, later led the Lofa Defense Force during the First Liberian Civil War?
• ... that one of Beverly Robertson's biggest accomplishments as CEO of the Greater Memphis Chamber was attracting the Ford Motor Company's US$5.6 billion Blue Oval City complex to Memphis, Tennessee?
• ... that the developer of Citizen Sleeper was inspired by the feeling of people coming together and their own experiences as a non-binary person struggling to make ends meet through the gig economy?
• ... that according to witnesses, the plutonium charge in the bomb used in the nuclear weapons test Gerboise Verte was transported in an economy car?

January 31:

• 1902 - Nat Bailey, a Canadian businessman, founder of White Spot, was born on this day.

• ...that in the United States of America the largest reserve requirement for commercial banks is 10% of liabilities?

• ...that the United States Federal Reserve System uses six monetary aggregates as components of the money supply?

• ...that an open market operation is an activity by a central bank to buy or sell government bonds on the open market?

• ...that, although nominal USA national debt has been steadily increasing since 1940, Debt-to-GDP ratio was actually higher during WWII than it is now?

• ... that the United States debt ceiling has been steadily raised since 1981?

• ... the Federal Reserve owns the largest share of the USA national debt?

• ...the term petrodollars was coined by Ibrahim Oweiss to describe dollars that did not circulate inside the United States, and therefore were not part of the normal money supply, and instead were received by petroleum exporting countries (OPEC) in exchange for oil?

• July 21: Technological University Dublin senior lecturer Dr Lorcan Sirr speaks to Wikinews on housing market in Ireland
• July 15: California governor signs new state budget, eligible Californians to get stimulus payments
• July 4: 130 OECD countries agree to back global corporate tax rate
• June 30: 'Each makes the other more difficult to recover from': University of Sussex professor L. Alan Winters speaks to Wikinews on trade, COVID-19, Brexit
• June 16: Wikinews interviews Victor Kline, leader of newly registered The New Liberals party in Australia
• April 23: Irish Finance Minister Donohoe criticises OECD's global minimum corporate tax rate
• April 17: People protest in Berlin against German Court overturning five-year rent cap
• March 5: Chancellor Rishi Sunak announces UK budget 2021
• February 10: Disney to shut down Blue Sky Studios, animation studio behind 'Ice Age'
• January 24: World Trade Organization declares US tariff hike illegal, rules in South Korea's favour