Wage-fix proposal too much of a shock?

SMU Associate Dean Hoon Hian Teck at the School of Economics and Assistant Professor of Economics Davin Chor gave their views on economist Lim Chong Yah’s proposal which earned the title 'Shock Therapy'. Essentially, Shock Therapy aims to make it more expensive to hire even the cheapest workers and force employers into raising productivity quickly to compensate for increased wage costs.