Yue Chim Richard Wong 王于漸
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Minimum Wage, Employment and Poverty

By YueChim Richard On 2011/01/14 · Add Comment · 12,122 views
Minimum wage laws were first introduced in Australia and New Zealand in 1824, adopted in Britain in 1910, and in the United States in 1938. The truly puzzling issue for economists is why a policy that does more harm than good has become so popular in so many places in the world. To date over 80 countries and territories have what could arguably be identified as statutory minimum wages with close to total coverage. Hong Kong will join them in May 2011.
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Ten Years of Low Yields, Mandatory Provident Fund Needs Reform

By YueChim Richard On 2011/01/07 · Add Comment · 6,542 views
The MPF has achieved an annual return of 5.1% since its establishment in 2000. Inflation during this decade averaged 0.37% annually. The annual return was therefore only 4.7% after inflation. These are poor results and the public knows it all too well. An early change to an individual portable MPF scheme would improve yields for all. It would help the neediest, who save less and depend more on a better performing MPF.
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