Current Affairs

The Questions of Resource Allocation and The Question of Who Decides

Victor Tan
 

Every society faces the same haunting question: we don’t have enough for everyone to have everything — so how do we choose? That’s the essence of economics. And the moment you understand that, a much more interesting question emerges: who gets to choose?

We already discussed how resources are finite and therefore that forces choices, and I think that this is something that is interesting to think about and that should give us pause – the questions of resource allocation.

The three basic questions of resource allocation are foundational to economics (doesn’t matter whether it’s IGCSE, A Levels, IB, or at the university level) and are asked by every society — whether it’s capitalist, socialist, or mixed — because resources are limited and choices must be made.

🌍 The Three Basic Economic Questions:

  1. What to produce?
    Which goods and services should be produced with the available resources?
    • Should we produce more food or more luxury cars?
    • Should we invest in healthcare, education, or weapons?
  2. How to produce?
    What methods and resources should be used to produce these goods and services?
    • Labour-intensive or capital-intensive?
    • Using sustainable energy or fossil fuels?
  3. For whom to produce?
    Who gets to consume the goods and services?
    • Based on income? Need? Equality?
    • Should housing be allocated by price or by social welfare criteria?

Of course, these are extremely important questions to deal with. But at some point, it makes you wonder:

Who exactly decides?

It’s a very interesting thought to consider when you think about how resources are allocated across space and time.

  • Who controls them?
  • Under what circumstances?
  • How does it differ across different societies?

And it’s here we find ourselves wondering—who really controls resource allocation? The billionaire CEO? The charismatic politician? The bureaucrat with a spreadsheet? Or a faceless global institution? Maybe it’s none of them. Maybe it’s all of them. Maybe it’s you and me but we don’t even realize that.

When you are a student, you may not always (at the outset) consider this question or how it maps onto the corporate world or political world, or even imagine that you may be related to that or participating in it at the moment, simply by choosing to read this blog post.

You may not exactly know how it relates to politics and politicians or institutions and the ways that things are done across societies—whether by individuals, whether by powerful people, whether by planners twiddling their fingers, or anything else along the way.

Still though, these are some very interesting questions to think about.

We might also consider that we don’t immediately know…


🔍 1. How much to produce?

Even after deciding what to produce, a society must decide how much of each good or service is optimal.

  • How many hospitals? How many smartphones?
  • Producing too much leads to waste, too little to shortages.

⏳ 2. When to produce?

Timing matters — some goods are time-sensitive, like seasonal crops, or future-focused, like infrastructure or AI.

  • Should we invest now in semiconductor capacity, or wait?

🔁 3. How to allocate resources over time?

Intertemporal allocation matters for sustainability and long-term planning.

  • Should we consume all our oil now, or save some for future generations?

♻️ 4. How to deal with externalities?

Some production/consumption creates side effects (pollution, congestion, education spillovers).

  • Should resources go toward mitigating harm (like carbon taxes)?
  • Should we subsidize socially beneficial goods?

🛡️ 5. How to ensure equity and justice in allocation?

Not just for whom, but how fair is the system?

  • Do the poor get basic needs met?
  • Should wealth redistribution play a role?

📈 6. How to respond to scarcity or surplus shocks?

In real economies, shocks like war, pandemics, or recessions shift resource availability.

  • Should we reallocate funds to defense? Emergency healthcare?

🧠 7. Who decides?

  • Is resource allocation driven by markets, governments, AI algorithms, or community-based systems?
  • Is it driven by influencers? By writers? By academics? By mass movements? Is it driven by everybody, a cabal, or by nobody?

Here then are some of my thoughts and reflections.

I think that it is very interesting to reflect on these questions, but I think that if you are wondering about them now, a good direction to go in is the direction of politics.

Now how could all those people giving dumb speeches on social media and literally slandering their way into power and beyond have anything to do with any of those questions out there?

Well, everything. Questions about resource allocation can be theoretical and they can make you feel good, but then when you start asking a question of how it is carried out in real life, you cannot avoid the question of politics and power as it is actually manifested in the real world beyond theories and beyond ideas alone.

Politicians debate and discuss the laws that will define the legislative architecture of our society that determines what is permitted and what won’t be. Politicians have the ability to discuss ideas but they also have degrees of power in deciding how resources for an entire society will be allocated. Politicians also often share in a revolving door within a society that decides how government budgets will be used and big choices will be made that in turn decide how individuals within a society will experience life even though they are technically the people. But their decisions may be outweighed by those who end up being elected and placed into positions of power.

But then, you might question how much influence you have over the process – and you might then conclude that individually, you have little, and this ultimately applies across pretty much every single member of the society who is influenced by the choices of every other person in the world, whether in terms of large-scale pattern behaviors or otherwise. One can only control it to a limited degree.

After all, in a country like Malaysia, you have one vote, and one vote will not win an election.

If not by force of revolution, do you get to control what everybody does?

Can you decide the entire direction of the society?

Can the Prime Minister for that matter?

Can a CEO, a group of CEOs, a cabal of Prime Ministers ala ASEAN? The G7? the OIC? The World Bank, World Economic Forum, IMF, or a collection of banks working in tandem?

…Can anybody?

I think that is an interesting question to explore; certainly, we may control our own lives and how we allocate resources or time within our own individual spheres of control, as defined by a mixture of social norms, individual capacity, technology, legal constraints, time, and opportunity costs amongst other things – We each have the ability, liberty, and agency to decide upon what we personally will choose in our personal lives and we may not necessarily be able to control what other people will choose, what they will do, or how they will act to the degree of forcing them to do exactly what we want…

But we can persuade people to want better and different things, at least to a degree. We can shape and be shaped through our thoughts. The ideas of those who happen to resonate with what we have chosen to think, feel, and believe about the world. For that reason, we have the ability to summon up the will of those around us to cooperate, coordinate, and create new things.

It is likely that many of you have more power than you think you may have. Slightly less than your delusions grant you in the deepest of your fever dreams and lie somewhere in the middle of things, even as you read this blog post contemplating either the delusion of the writer or the life that you happen to be living at this moment. That is all well and good. I’ve said this a few times, but I’m not here to be a hero. I’m not here to save this society – just to highlight to you that choice is a very real thing, and that it is something that we as humans must deal with in the course of our shared existence.

But I do hope that I can make you think a little more about the choices that you are making to have agency over them and to learn how, when, and why to collaborate with others in creating something a little better for the future; after all, even if we cannot shape the things that we see happening on large scales with just our voices or our visions, we have the ability to converse, to share our thoughts, and from there, in different ways, to influence the direction of the world’s thinking through what we believe, what we see, and what we ideate.

You may not be able to dictate the budget of a country, or single-handedly reshape the economy. But you can choose. You can think. And perhaps more importantly—you can talk. The ideas you carry, and the way you share them, might just spark a ripple in someone else’s mind. And enough ripples, one day, become a tide.

Yours,

Sepupu.

What’s the International Baccalaureate Diploma Program (IBDP) and How Is Economics Assessed Within It?

Victor Tan
 

Sepupus, we’ve come to the last part of the focus of this website beyond which an open world lies. Here we are at the program that I did, the International Baccalaureate Diploma Program.

Of all the major pre-university programs, I think that this is probably one of the most misunderstood – But there are a couple of people out there whom you might not expect to have done it, but whose names you will recognize regardless.

Amongst others, you have Khairy Jamaluddin, who did his IB aeons ago (and who did an extended essay on FELDA, interestingly enough), as he discussed with me when we did our interview together last year…

Seen: A couple of (former) IB students just doing their thing. Books: Tun Dr. Mahathir Mohamad’s Malay Dilemma, and Anwar Ibrahim’s The Asian Renaissance.

And also… Kim Jong-un? The current supreme leader of North Korea, otherwise known as the Democratic People’s Republic of Korea, who allegedly did his IB in Switzerland where the thing was actually conceived?

Well, maybe that’s just conventional wisdom or the results of a tabloid rag gone wow. But it would be fascinating to imagine him struggling over a HL math exam 😅

Anyway, IB is a globally recognized two-year educational framework tailored for students aged 16-19, and it is a little different from A levels which tend to go a lot more into depth into individual subjects in that it emphasizes holistic learning, international-mindedness, and developing inquiring people capable of critical thinking and responsible global citizenship – Which pretty much any IB student could easily tell you just means that we are extremely extremely good at BSing, but I’ll leave it to you to discover what’s true and what’s not.

If you’re doing the IB, maybe you can even make it into a TOK question.

You’re welcome.

Anyway…

Educational Philosophy of the IB Diploma Programme

Every educational organization has some sort of underpinning philosophy behind it, and the IB is no different. What it promised seemed a little more appealing to me at the time, though, and this is what it was.

You can also read this document here created by the IB if you are interested.

Didn’t read that? No problem – here are my thoughts and experiences.

I could say any number of woke things about the IB diploma, but I think that that’s a disservice to you, so I will just say my thoughts.

As I understand it, the International Baccalaureate (IB) is designed to be an international qualification. It was designed to be a curriculum that was interoperable, whichever international school you went to throughout the world, and it was designed with that explicit idea of broad focus and worldly scope in mind – To create something for the children of diplomats across the world so that whichever international school they went into, they would be able to just slot themselves in and just function, work, and do well.

To that end, students take six subjects which is meant to offer an education in breadth – three at what we call higher level and three at standard level. A higher level is roughly equivalent to an A level in terms of scope, while SLs are more analogous to AS exams. Also, there are a couple of interesting assessments, namely…

  • Theory of Knowledge (TOK), which explores the nature of knowledge and how we come to know what we know.
  • Extended Essay (EE), which involves an independent research project of 4000 words, fostering depth of inquiry.
  • Creativity, Activity, Service (CAS) encourages students to engage in extracurricular activities to nurture personal growth and community service.

Economics within the IB Diploma Programme

Now, this sets us out to understand economics within the IB Diploma.

Economics within the IB DP focuses not only on economic theories and models but also on their real-world application, ethical implications, and societal impacts, and with an eye towards internationalism.

Curriculum and Content

Economics students at both Higher Level (HL) and Standard Level (SL) study four core units:

  • Introduction to Economics: We study foundational principles and economic thinking, Leading from scarcity into the principles of economics.
  • Microeconomics: We study individual market behaviors, supply-demand analysis, and market failures, amongst other things.
  • Macroeconomics: national economies, policy-making, and economic indicators like GDP, GDP per capita, as well as phenomena that affect the macro economy, i.e., the economies of countries, such as inflation and the interest rate, and how all this affects the aggregate behavior of consumers.
  • The Global Economy: international trade, economic integration, sustainable development, and economic growth.

As with Economics at IGCSE and A level, understanding content knowledge is important, but so is the ability to analyze and to evaluate, although the topics may be slightly different or the emphasis somewhat shifted. We will talk a little bit more about this later on.

The difference between SL and HL in terms of content is that HL goes much more into depth. For example, in HL economics, students go deep into the Theory of the Firm and into cost curves amongst other things, the Marshall-Lerner condition, and a lot more depth in terms of discussions and understanding of economic theory. Also, there is an explicit focus on policy analysis and evaluation which is manifested in paper 3 which is only available for HL students.

📚 IB Economics Assessment Structure: HL vs SL

STANDARD LEVEL (SL)

🔸 Internal Assessment (30%)

  • Content: Three commentaries (800 words each) based on real-world news articles. This will probably be a big source of your suffering throughout the course, and I will talk more about it later on.
  • Coverage: One each for microeconomics, macroeconomics, and global economics.
  • Assessment method: Internally marked, externally moderated. What this means in practice is that all of you will be working with your economics teachers to craft and create your commentaries. In most schools, you will have the chance to have your teacher look over a draft one time so that you can receive comments before having to submit the final.

    What typically happens is that the teacher will assign grades to every single person, and IB won’t be checking every single assignment for marking. Rather, what they do is choose one or two commentaries from the entire cohort, compare what they personally would grade the IAS against the teacher’s grade, and then from there try to understand how the school is doing.

    If the school grades the commentary very leniently and assigns it a perfect score when in reality it should have only deserved a 5, then this raises an alarm bell that tells us that the school is too lenient and therefore all other students should be treated as such.

🔸 External Assessment (70%)

  • Paper 1 (Essay-based) – Extended analytical and evaluative responses, requiring critical thinking and deep synthesis across economic theories. Basically, you need to bring out your analysis and evaluation skills here alongside your understanding of real-world examples. By this point, I hope that you’ve read a lot and have taken the effort to learn about the world around you, countries around you, and economic decisions and how they impact the world around you.
  • Paper 2 (Data-response) – Application and analysis of data sets to examine economic concepts practically.
PaperTypeTimeDescriptionWeight
1Extended Response1 hour 15 minChoose one question from three. Each question has part (a) and part (b).30%
2Data Response1 hour 45 minChoose one question from two. Based on real-world case study extracts.40%

🕒 Total Examination Time: 3 hours
📘 Syllabus Coverage: Core syllabus only (units 1–4)


HIGHER LEVEL (HL)

🔹 Internal Assessment (20%)

  • Content: Same as SL — three 800-word commentaries from different syllabus sections.
  • Assessment method: Internally marked, externally moderated – Same as before.

🔹 External Assessment (80%)

  • Paper 1 and 2 – Same as for SL.
  • Paper 3 (Policy paper) – A specialized assessment exclusively for HL, focusing explicitly on policy evaluation and synthesis.
PaperTypeTimeDescriptionWeight
1Extended Response1 hour 15 minSame structure as SL — one out of three essays (two parts each)20%
2Data Response1 hour 45 minSame as SL — one out of two case-based questions30%
3Policy Analysis1 hour 45 minAnswer two compulsory questions — includes mathematical calculations.30%

🕒 Total Examination Time: 4 hours 45 minutes
📗 Syllabus Coverage: Core + HL extensions (includes more advanced theory and quantitative work)


🎯 Summary: SL vs HL

FeatureSLHL
Papers2 (P1 & P2)3 (P1, P2, P3)
Internal Assessment30%20%
Quantitative Paper✅ (Paper 3)
SyllabusCore topics onlyCore + HL extensions
Total Exam Duration3 hours4 hours 45 minutes
University PreparationModerateStrong (especially for economics/finance)

Philosophy and Practical Differences between HL and SL

HL Economics aims to prepare students rigorously for university-level economics study. It provides deeper theoretical foundations, more extensive analytical challenges, and greater demands for synthesis and evaluation. The additional HL-exclusive policy paper reflects this heightened focus.

SL Economics, while rigorous, is tailored for students seeking a strong but general understanding of economics. It balances foundational theory with practical applications suitable for students whose higher education or career aspirations lie in diverse fields beyond economics itself.

Similarities and the Unique Contribution of the IB

Regardless of whether you are taking SL or HL economics, it’s a good bet that you will be expected to:

  • Read widely
  • Manage your time extremely well because of the multiple other assignments and subjects you are dealing with
  • Be able to comment intelligently and link things together across different areas of the syllabus
  • Make good observations about what’s suitable

One of the reasons why the IB happens to be one of the most expensive pre-university programs that a person can undertake is because of the high labor intensity of this kind of engagement, whereby teachers have to often deal with entire cohorts of students on a personal basis to provide feedback to every single student in the course of their journey, which is not easy by any means and entails a large amount of work.

I consider it a very rewarding programme, but let me go ahead and tell you that it really isn’t for everyone, because it’s not an easy programme and if you don’t choose the right school, you will suffer because of the way the curriculum is structured and because of how much contact time and therefore collaboration you as a student will need to have with your teachers.

I know some of you will read this and you will say that you want a more rigorous education – Well that was exactly what I wanted; let me not overly praise or mock my teachers, but let me just say that it would be fair to say that I went on to hard mood. And up until now I still don’t know whether I can justify it.

To that, I can say the following: Be careful what you wish for because you may actually receive it.

…Then again, you’re here reading Sepupunomics, are you not? Well… Enjoy your masochism then, I guess.😂

Alright, sepupus, that’s enough for today, and I will see you in the next one!

Malaysia’s Economist King: Sultan Nazrin Shah of Perak

Victor Tan
 

Hello sepupus!

The following Personality Report is one that I have wanted to write for a very long time. It is about a figure who is an eminent economist, but who is also a part of one of Malaysia’s most important institutions: The Royalty within Malaysia’s constitutional monarchy.

Because this is a topic that is of significance to Malaysia and Malaysia’s history and one that I consider important and relevant to all Malaysians, it will be made free to all readers; like other premium reports, you may purchase an individual copy for USD10 for your personal use, or get access to this report (and all other Premium Reports and features!) as well as discounts to other resources through a Premium membership.

…But this one is currently free, and if you are a citizen of Malaysia, or you’ve only had a passing understanding of the royalty of Malaysia, or if you are an international observer who has never thought about this aspect of Malaysia before, I hope that you will find this enlightening and interesting.

I extend this as a small gift to the world. Please read this and share it before I change my mind!

Thank you!

Your Highness, I hope you will enjoy this report. I have done my best to do justice to your legacy; any errors and omissions are my own.


Source: Official website of the Office of the DYMM Paduka Seri Sultan Negeri Perak

Introduction

In the landscape of modern monarchy, Sultan Nazrin Muizzuddin Shah – the Sultan of Perak – stands out as a rare blend of royalty and scholarly intellect. 

He holds degrees from the world’s elite universities, including Oxford and Harvard, and even a doctorate in political economy – an unprecedented feat for a Malaysian monarch (1)

Even as His Highness serves as Malaysia’s Deputy Yang di-Pertuan Agong, he is far from a figurehead, and has leveraged his education and passion for knowledge to become a thought leader on economics, history, and governance. 

Sultan Nazrin frequently engages with intellectual circles and the public on issues ranging from economic development to interfaith dialogue (2), even as he describes himself as a “friend of intellectuals everywhere”. (18)

This report explores the journey of Sultan Nazrin Shah – his historical context, education in economics, scholarly projects, publications, and the role he plays as a public intellectual monarch – to shed light on how education has shaped an exemplar king in 21st-century Malaysia.

A Royal Heritage Shaped by History

Sultan Nazrin Shah’s story cannot be separated from the rich history of the Perak Sultanate and its encounters with colonialism. Perak, a state in Peninsular Malaysia, was thrust into the colonial spotlight with the signing of the Pangkor Treaty in 1874, an agreement that marked the start of British political control in Perak (3)

This treaty, imposed after a period of succession disputes and unrest, brought in a British Resident to “advise” the Sultan, effectively subordinating Perak’s traditional governance to colonial interests. 

The late 19th and early 20th centuries saw Perak’s economy transformed by booms and busts in tin mining and rubber, global commodity cycles, and the upheavals of two World Wars and the Great Depression (3)

These historical forces not only altered Perak’s fortunes but also shaped the role of its monarchy. The Sultan’s institution had to navigate the legacy of colonialism, from the erosion of traditional authority under British rule to the challenges of post-independence nation-building.

Born on 27 November 1956, Sultan Nazrin Shah grew up in a royal family conscious of this historical legacy. His grandfather had ruled during colonial times, and his father, the late Sultan Azlan Shah, was himself an accomplished and modern monarch – a former Lord President (chief judge) of Malaysia who strongly valued education and the rule of law. 

From a young age, His Highness was imbued with an understanding that a monarch’s legitimacy lies not just in lineage but in service to the people and dedication to knowledge. 

He later acknowledged the influence of his parents in instilling “uncompromising moral and ethical values” and a passion for justice (4). This grounding in history and values would inform his intellectual interests and his vision of monarchy’s role in society.

The Making of an Economist King: Education and Early Career

Sultan Nazrin Shah’s educational journey is a striking departure from the leisurely princely paths of old. As a boy, he received both local and international schooling, reflecting his family’s emphasis on a well-rounded education. He attended primary school in Kuala Lumpur and continued his secondary education at St. John’s Institution – a premier school in Malaysia’s capital – before going abroad for his pre-university studies. 

In the early 1970s, the young prince studied at The Leys School in Cambridge, UK, for his A-Levels (5). This early exposure to rigorous academic environments set the stage for his higher education at some of the world’s top universities.

In 1976, Raja Nazrin (as he was then known, holding the title of Crown Prince of Perak) matriculated at the University of Oxford. There, he read Philosophy, Politics, and Economics (PPE) at Worcester College and earned a Bachelor of Arts (Honours) degree. 

PPE at Oxford is renowned for producing leaders and thinkers, and it gave him a strong foundation in political and economic theory. Not content with a bachelor’s alone, His Highness pursued graduate studies at Harvard University’s John F. Kennedy School of Government, obtaining a Master’s in Public Administration

He went on to break new ground for Malaysian royalty by completing a Ph.D. in Political Economy and Government at Harvard as well (6)

By the time he returned to Malaysia in the early 2000s, Sultan Nazrin Shah had become one of the most highly educated monarchs in Malaysian history, with academic credentials spanning Oxford to Harvard.

His scholarly training was not merely for prestige – it shaped his perspective on governing and development. At Oxford and Harvard, His Highness absorbed lessons in economics, public policy, and history that he would later apply to understanding his own state and country. 

For instance, he studied the mechanisms of economic growth and governance in developing countries, and he delved into historical analysis as part of his doctoral research (7). This deep academic immersion set him apart as a thinking ruler – one who could engage with experts and citizens on complex policy issues. It also earned him esteem among academia: he has since been made an Honorary Fellow of Worcester College, Oxford and of several colleges at Cambridge, recognitions of his scholarly bent (2).

Doctoral Research: Linking History, Economics, and Colonialism

Sultan Nazrin’s PhD work proved to be a defining chapter in his intellectual development. 

At Harvard, his research zeroed in on Malaysia’s economic history – specifically the early 20th-century economy of Malaya (the precursor to modern Malaysia) during the late colonial period. Titled “Historical National Income Accounting and Economic Growth in Malaya” (or similar, based on his topic), his dissertation involved painstaking original research. He made pioneering estimates of Malaya’s Gross Domestic Product (GDP) for the early decades of the 1900s – a time for which official economic data were scant (7)

By scouring colonial archives and employing econometric techniques, Sultan Nazrin Shah reconstructed how the Malayan economy performed under British rule and how it transitioned through tumultuous periods like World War I, the interwar years, and the Great Depression.

This academic project was more than an abstract exercise – it was Sultan Nazrin’s way of connecting the economic impact of colonialism with Malaysia’s present. His Highness’s research illuminated how colonial policies and global market forces shaped Malaya’s prosperity and later struggles. For example, British exploitation of natural resources (tin ore and rubber, in particular) brought great wealth to states like Perak, but also made them vulnerable to global price crashes. 

Sultan Nazrin explored these dynamics in his thesis, explaining the “volatile” economic changes of that era with data-driven analysis (7). It was uncommon for a royal figure to dive so deeply into archival research and statistical number-crunching, but Nazrin Shah was passionate about uncovering the truths of Malaysia’s economic past. As he later remarked, understanding history – especially the colonial economic legacy – is essential to formulating a path forward for national development (8).

In 2001, armed with his newly-minted doctorate, Sultan Nazrin Shah returned to Malaysia with a new Dr. title, and with a mission. His time in Harvard’s halls had not only earned him academic accolades but kindled a long-term commitment: to advance the study of Malaysia’s economic history and share its lessons with a wider audience. 

This commitment would soon take shape in a major research initiative back home.

Advancing Economic History: The EHM Project

Rather than shelving his thesis and moving on, Sultan Nazrin Shah expanded it into a broader project for the nation’s benefit. 

Soon after his return, with encouragement from the late Malaysian economic historian Shaharil Talib, he established a research team at the Asia-Europe Institute of University of Malaya in Kuala Lumpur (7)

For a crown prince (he was the Raja Muda of Perak at the time) to personally lead a research effort was extraordinary. 

Sultan Nazrin, however, was hands-on: despite the demands of royal duties, he convened regular meetings with his team of researchers – up to 15 assistants managed by economist Dato’ Gnasegarah Kandiah – poring over data and guiding the work (7)

The initial focus of the Economic History of Malaysia (EHM) project was ambitious and clear: to construct a robust set of historical GDP accounts for Malaya, year by year, from 1900 to the eve of World War II (9).

For several years, Sultan Nazrin Shah’s team sifted through colonial records in both Malaysia and the UK, piecing together statistics on tin production, rubber exports, population, and other economic indicators. 

They innovated methods to estimate economic output where records were incomplete. 

The result was a comprehensive time series of Malaya’s GDP (and its components by sector) from 1900 to 1939 (9). This dataset broke new ground – it gave scholars and policymakers a quantitative window into how Malaysia’s economy evolved under colonial rule, through boom times and crises.

By 2016, the project had grown in scope and entered a new phase. 

Sultan Nazrin Shah launched an online platform – the Economic History of Malaysia website – to disseminate the research findings and data (9)

This initiative made decades of painstaking work publicly accessible. The website not only hosts historical GDP statistics and methodology, but also features articles by various scholars on Malaysian economic and social history, reflecting Sultan Nazrin’s inclusive approach to scholarship (9). Under his patronage, EHM became a living project, constantly updating with new research, engaging experts from around the world, and educating Malaysians on their own economic heritage.

Publications and Thought Leadership

One hallmark of Sultan Nazrin Shah’s intellectual engagement is that His Highness has not kept his research confined to academic circles – he actively publishes and speaks to share insights with a broader audience. Over the past decade, he has authored several notable books, effectively translating historical economic analysis into narratives for policymakers and the public. His publications form a trilogy (with more to come) that tracks Malaysia’s economic journey from colonial times to the present:

  • Charting the Economy: Early 20th Century Malaya and Contemporary Malaysian Contrasts (2017) – This was Sultan Nazrin’s first flagship publication after years of research. In it, he revealed the newly assembled data on Malaya’s early 1900s economy and drew comparisons with Malaysia’s post-independence economy in the late 20th and early 21st century (10). The book “broke new ground” by documenting Malaya’s GDP and economic structure under colonial rule, and analyzing how those historical trends set the stage for Malaysia’s later growth (10). It provided a long-run perspective – for instance, showing how per capita incomes, trade, and industries shifted from the colonial period to modern times. Charting the Economy was lauded for its rigorous scholarship and accessible style, reflecting Nazrin’s aim to educate not just economists but also his people about their economic roots.
  • Striving for Inclusive Development: From Pangkor to a Modern Malaysian State (2019) – Sultan Nazrin’s second book moved from pure historical data into the realm of policy and vision. Here, he took a broad view of the past 150 years of Malaysian economic and social development (11). The title itself invokes Pangkor – a nod to the 1874 treaty and the colonial era – juxtaposed with the modern Malaysian state. In this work, Sultan Nazrin charted how far Malaysia has come since the days of British rule, achieving significant economic transformations and social progress, but he also candidly examined the challenges that remain (11). A key theme of the book is “inclusive development” – ensuring that growth benefits all segments of society. Sultan Nazrin emphasized the need to address inequality and to strengthen national unity in the development process, consistent with his long-held advocacy for education, interethnic harmony, and good governance. Striving for Inclusive Development reads as both an analysis of Malaysia’s nation-building journey and a manifesto urging continuous effort toward an inclusive, cohesive society.
  • Globalization: Perak’s Rise, Relative Decline, and Regeneration (2024) – His third and most recent book zeroes in on his home state of Perak, using it as a case study of globalization’s  mixed fortunes. Published by Oxford University Press, this work is the culmination of an in-depth study Sultan Nazrin led on Perak’s economic and social history over 150 years, especially how global economic waves impacted the state (12). Perak was once Malaya’s wealthiest region, riding high on tin mining and rubber during the British era – a time remembered as the state’s spectacular “rise.” The book documents how mid-20th century shifts – the collapse of the tin industry by the 1980s, for example – led to Perak’s “relative decline” within Malaysia as other states like Selangor and Penang surged ahead (12). Yet, Sultan Nazrin does not paint a picture of doom; he explores signs of “regeneration” and potential revival, discussing strategies for Perak (and similarly situated regions) to reinvent their economies in the 21st century. Notably, the book delves into themes such as colonial institutional legacies, federal-state relations, industrial agglomeration, and migration – showing how Perak’s story mirrors those of other once-prosperous areas left behind by globalization (12). Dedicated “to Perakians everywhere,” this volume is as much a scholarly monograph as it is a personal offering from a ruler to his people, distilling lessons from the past to inform future policy.

Accompanying these books, Sultan Nazrin Shah has also edited and contributed to other publications and delivered numerous keynote addresses. 

In fact, his very first published monograph, “The Monarchy in Contemporary Malaysia”, was based on a public lecture he gave in 2004 while he was still Crown Prince (13)

In that lecture – organized by the ISEAS institute in Singapore – Raja Nazrin Shah spoke about the evolving role of constitutional monarchy in a modern democratic nation. It was an early indication that he was already thinking deeply about how a traditional institution could remain relevant in contemporary society

His speeches and essays over the years cover a wide range of topics, reflecting an intellectual breadth not typical of royalty. 

He has written or spoken about ethno-religious relations in Malaysia, the importance of education, the principles of Islamic finance, nation-building and good governance, and the challenges of globalization, among other subjects (14). Many of these speeches are later published or compiled, effectively making Sultan Nazrin a public intellectual in his own right, not just a ceremonial figure.

Not only does he author books, but Sultan Nazrin often officiates at book launches and academic events, signaling his support for scholarship and knowledge-sharing. For instance, in 2018 he launched a historical book about the Perak Sultanate’s cultural heritage, emphasizing how understanding history is crucial for state pride and identity (15)

He has written forewords for academic works and regularly graces conferences and seminars with his insights. Through these actions, he bridges the gap between the ivory tower and the general public, using his platform to promote literature, history, and research.

Engagement with Education and the Public

Upon becoming the Sultan of Perak in 2014, Sultan Nazrin Shah immediately continued the tradition of royal engagement in education – but with his own scholarly twist. 

He was installed as the Chancellor of the University of Malaya (UM), Malaysia’s oldest university, a position traditionally held by the Sultan of Perak. In this role, Sultan Nazrin is a figurehead for one of the country’s top institutions of higher learning, presiding over convocations and promoting academic excellence. 

However, he is not a mere titular head; colleagues at UM note that his “diligence [and] erudition” are an inspiration to the campus community (2)

He has also become Chancellor of Sultan Azlan Shah University, a newer institution named after his late father (2). Through these roles, he advocates for educational advancement and often speaks on the need to empower youth with knowledge and critical thinking skills.

Sultan Nazrin’s involvement in education extends beyond universities. He serves as Chairman of the Board of Governors of Malay College Kuala Kangsar (MCKK), a premier boarding school in Perak that has historically groomed many Malaysian leaders (1)

His interest in nurturing future generations is evident in his frequent addresses to student audiences and graduates. He reminds young Malaysians that education is not just a personal asset but a pillar of national development, a theme he highlighted at forums like the Pangkor Dialogue in 2017: “Education contributes to development by empowering individuals to reach and fulfill their potential… and [it] makes it imperative for education systems to stay ahead of the game in our competitive and challenging times” (he noted in one speech) (16). Such statements underscore his belief that an educated populace is crucial for Malaysia’s progress.

Beyond formal education, Sultan Nazrin Shah has positioned himself as a patron of intellectual and cultural initiatives

Fittingly, he is the Royal Patron of the Harvard Club of Malaysia, connecting him with the community of Malaysian alumni of Harvard University (2)

In this capacity, he supports activities that promote learning and public discourse, often attending Harvard Club events and sharing his experiences to motivate others. 

He is similarly a patron or fellow of numerous institutions: the Oxford Centre for Islamic Studies (where he is Vice-Chair of the trustees) and several Oxford and Cambridge colleges have made him an honorary fellow for his support of academic collaboration (2). Sultan Nazrin also patronizes think tanks and professional bodies; for example, he is a Royal Fellow of Malaysia’s Institute of Strategic and International Studies (ISIS Malaysia) and the Institute of Defence and Security, reflecting his engagement with policy research communities (2).

One of the most visible ways Sultan Nazrin engages with the public is through high-profile lectures and forums. He often speaks at conferences such as the Khazanah Megatrends Forum, a major annual event on economics and finance hosted by Malaysia’s sovereign wealth fund. In 2014, newly enthroned, he delivered an address at Khazanah’s forum emphasizing that as Malaysia rides the “rising tide of the Asian century,” the fruits of prosperity must be equitably shared and sustainably managed for future generations (16)

He stressed that inclusiveness should be the “lynchpin” of the nation’s economic philosophy, a statement reflecting both economic insight and moral conviction. Sultan Nazrin’s words carried weight coming from a monarch-scholar: he was effectively nudging policymakers and business leaders toward a more inclusive and sustainable model of development. Such interventions have earned him respect as a non-partisan voice of reason in national conversations about the economy.

Similarly, Sultan Nazrin has used platforms like the Institute of Southeast Asian Studies (ISEAS) and other international forums to articulate the role of the monarchy in modern governance. In his 2004 Singapore lecture and in subsequent speeches, he argued that the monarchy can and should provide stability, continuity, and moral guidance in a democracy. He famously asserted that the monarch is not meant to be “deaf, blind and dumb” to the nation’s issues, but rather should be a voice of impartiality, fairness, and justice (17).  

This perspective was not just theoretical. 

In Malaysian public life, Sultan Nazrin often speaks up on matters of national importance, from racial unity to governmental integrity, in line with those principles. For instance, during times of political uncertainty, his statements often remind leaders and citizens of the constitutional framework and the need for fair governance.

Perhaps the most telling example of his public leadership came during his inaugural royal address as Sultan of Perak in 2015. In that speech, delivered at his formal installation ceremony, Sultan Nazrin proclaimed that “the monarchy does not merely play the role of a ‘decorative ornament’ for Malaysia” (18)

He went on to elaborate that the institution of the monarchy is a pillar of unity and harmony, enshrined in the country’s Constitution with important duties to perform (18). Using vivid metaphors and even drawing on historical and religious sources, he reminded his people that a ruler must rise above politics as a symbol of justice and fairness (18)

“Thus, the monarch has to be energetic, dynamic and convincing while also fulfilling his duty as a unifying presence,” he said, likening the monarchy to an umbrella under which the people find shelter amid an increasingly divided landscape (19). These words, coming at the moment he formally assumed the throne, set the tone for his reign. They signaled that Sultan Nazrin Shah sees his role not as a passive figurehead, but as an active guardian of his people’s welfare – intellectually, morally, and constitutionally.

Monarchy as Public Intellectualism in the 21st Century

Sultan Nazrin Shah’s unique profile – a head of state with a Harvard PhD and a catalog of serious publications – prompts a broader reflection on what monarchy can contribute to public intellectual life today. In many countries, monarchs have ceded day-to-day power and remain largely ceremonial. Malaysia’s constitutional monarchy is no exception in legal terms; Sultans do not govern, and they must act on the advice of elected governments for most matters. However, Sultan Nazrin represents a case of how a modern monarch can carve out a meaningful space by leveraging soft power – namely, the power of ideas and moral suasion.

By all accounts, Sultan Nazrin Shah is Malaysia’s most educated monarch – a fact that has earned him admiration from the public and the moniker of “Learned Sultan.” Education has given him credibility when he speaks on complex issues. He is able to engage with academics, economists, and statesmen in their own language, often citing data or historical precedent in his arguments. This has allowed him to act as a bridging figure between academia and the public, and between the government and the governed. For example, when he discusses economic policy or the challenges of globalization, people listen not just because he is a Sultan, but because he clearly understands the subject matter. His ideas carry a non-partisan authority – they are rooted in research and the long-term view, rather than in short-term politics.

Moreover, Sultan Nazrin’s scholarly inclination has helped modernize the image of the monarchy in Malaysia. He embodies what some observers call the “Nazrinian monarchy” model: a monarchy that presents itself as a thoughtful, unifying institution, not merely steeped in pomp and ceremony. In a diverse country where unity is fragile, he uses the stature of his office to emphasize common values and shared history. 

His intellectual projects, like the Economic History of Malaysia, also show that a monarch can contribute concretely to national knowledge. Instead of simply patronizing charities (which he also does), he has patronized research that builds an archive of the nation’s memory. It’s a form of intellectual philanthropy: investing time and resources to enrich the country’s understanding of itself.

Importantly, Sultan Nazrin Shah has been careful to stay within constitutional bounds even as he voices out on issues. He often prefaces his more pointed remarks by framing them as lessons from history or principles from the Constitution, thus educating listeners while gently guiding opinion. For instance, during political crises, he might quote past statesmen or legal provisions, indirectly advising leaders to uphold democratic ethics. This approach underscores how his academic mindset complements his royal duties. He navigates sensitive topics by leaning on scholarly evidence or historical anecdotes, which lends a neutral, educational tone rather than a political one.

The Sultan’s emphasis on lifelong learning also sets an example for his subjects. Well into his 60s, he continues to stay updated, engage with new ideas, and even work on new editions of his books to address recent global developments (12). By highlighting that learning never stops – even when one has ascended a throne – Sultan Nazrin inspires Malaysians to value knowledge and expertise. In a speech to an Islamic university, he once emphasized that a community’s strength lies in its knowledge and that leaders must be readers and learners. As patron of the Harvard Club, he often reminds alumni to give back by sharing what they have learned. In these ways, he redefines royalty not as a distant elite, but as a role model for personal development and intellectual humility.

Looking at the broader picture, Sultan Nazrin Shah’s role suggests that constitutional monarchies in the modern world can find renewed purpose by embracing education and intellectual leadership. A monarch who writes books, engages in policy discussions, and supports research can contribute to a nation’s “intellectual capital.” In Malaysia’s case, where the monarchy is intertwined with national identity, having a learned Sultan elevates the prestige of the throne and can even enhance national pride. Many Malaysians take pride in the fact that one of their Rulers has spoken at international forums or authored a book published by Oxford University Press. It places Malaysia’s monarchy in a positive light globally, as progressive and enlightened.

Of course, this approach also comes with the weight of expectations. The public holds Sultan Nazrin in high esteem, which means they listen intently to his words and often hope he will speak out during crises of governance or social tension. Navigating this responsibly has been one of his tasks – to be vocal enough to guide, yet neutral enough to stay above the political fray. Thus far, he has managed this balance adeptly, using historical and economic perspectives to comment on contemporary issues without taking partisan sides.

In summary, Sultan Nazrin Shah exemplifies how a royal figure can serve as a “public intellectual monarch.” Through education, he gained knowledge; through knowledge, he gained influence; and through influence, he strives to better his state and country. His journey from Oxford and Harvard back to the throne in Kuala Kangsar is more than a personal narrative – it reflects a model of leadership where tradition and modern intellect harmoniously coexist. In a very real sense, Sultan Nazrin Shah has shown that scholarship and monarchy, far from being at odds, can together contribute to the public good in the modern world.

Conclusion

Sultan Nazrin Shah of Perak stands as a compelling figure in Malaysia’s contemporary landscape – a monarch by heritage, an economist by training, and an intellectual by passion. His life trajectory, from studying the philosophical debates at Oxford to parsing economic data at Harvard, back to presiding over a historic Sultanate, has given him a unique voice among leaders. Branded “Malaysia’s Economist King,” he has leveraged his knowledge to interpret the past and envision the future for his people. Under his patronage, forgotten chapters of economic history have been reconstructed, and new generations are reminded of the lessons of colonialism, globalization, and nation-building.

The Sultan’s deep engagement with education – both his own and that of his nation – has made him an exemplar of lifelong learning and enlightened leadership. At a time when public discourse can be polarized and short-sighted, Sultan Nazrin injects a long-term, principled perspective grounded in history and data. Whether he is addressing a room of scholars, a hall of students, or a nation hungry for guidance, he invokes the values of knowledge, inclusivity, and unity. In doing so, he reinforces the idea that a monarch’s relevance today lies not in wielding power, but in wielding ideas that inspire and guide.

Sultan Nazrin Shah’s reign in Perak is still in progress, but already his impact is evident in the scholarly works he’s produced, the institutions he’s supported, and the minds he’s touched through his speeches. He has become a bridge between Malaysia’s past and future – illuminating how the trials of history inform the challenges of today, and how good governance and education can pave the way for a better tomorrow. For the Malaysian public, he offers a narrative of royalty that is not about opulence or ceremony, but about service, intellect, and moral stewardship.

In essence, Sultan Nazrin Shah has proven that a king can indeed be an economist, a historian, and a teacher for his nation. His story enriches the tapestry of Malaysia’s monarchy, showing that tradition can find new life and purpose in scholarship. As Malaysia continues to navigate the complexities of the 21st century, the example of its “Economist King” – a leader who continually learns and enlightens – will remain a beacon, reminding all that knowledge is the truest royal inheritance.

References (Bibliography)

  1. Nazrin Shah of Perak – Wikipedia. Sultan Nazrin Muizzuddin Shah (born 1956) is the current Sultan of Perak (ascended 2014) and is noted for being a strong advocate of education, holding a BA from Oxford and a PhD from Harvard(en.wikipedia.org)(harvardclubofmalaysia.org).
  2. Harvard Club of MalaysiaOur Patron, Sultan Nazrin Shah. Describes Sultan Nazrin as ascended in 2014, Chancellor of University of Malaya, Honorary Fellow at Oxford and Cambridge colleges, etc., and notes his roles (former Financial Ambassador, now Royal Patron for Islamic finance initiative) and UN co-chair position. It highlights his research interests in economic and political development, and lists his publications Charting the Economy (OUP 2017) and Striving for Inclusive Development (OUP 2019). It also mentions he speaks on constitutional monarchy, governance, Islam, finance, education, etc.( 1. harvardclubofmalaysia.org).
  3. Economic History of Malaysia (EHM)About the Project. Explains the historical context of Malaya/Malaysia’s economy, “defined by the signing of the Pangkor Treaty in 1874” which led into waves of globalization, tin and rubber boom-bust cycles, colonialism, world wars, decolonisation and independence in 1957. Emphasizes that understanding this history is key to an informed society( ehm.my).
  4. EHM – About HRH Sultan Nazrin Shah. Highlights Sultan Nazrin’s advocacy of good governance, multiculturalism, and rule of law “like his father, Sultan Azlan Shah”, noting he has a passion for judicial independence and credits his parents for instilling strong moral values(ehm.my).
  5. Wikipedia (Early life education details). Notes that Nazrin Shah studied at Sekolah Rendah Jalan Kuantan (KL, 1962–67), St. John’s Institution (KL, 1968–70), and The Leys School in Cambridge, UK (until 1975) before pursuing higher education(en.wikipedia.org).
  6. EHM – About HRH. Confirms Sultan Nazrin’s higher education credentials: B.A. (Honours) in PPE from Oxford University; MPA from Kennedy School of Government, Harvard; and Ph.D. in Political Economy and Government from Harvard University(ehm.my).
  7. EHM – About the Project. Describes how Sultan Nazrin’s interest in economic and social development was propelled by his PhD dissertation at Harvard, where he produced pioneering estimates of Malaya’s early-20th-century GDP and analyzed the volatile economic changes of that period with econometric methods(ehm.my).
  8. EHM – About the Project. Details the establishment of the research team at University of Malaya after his return in 2001. Sultan Nazrin led a team (with Dato’ Gnasegarah, Harbans Singh, etc.) to create a comprehensive historical GDP series for Malaya (1900–1939) by gathering colonial statistical records from archives in Malaysia and the UK(ehm.my).
  9. EHM – About the Project. Chronicles the evolution of the Economic History of Malaysia project. In 2016 it launched a public website to share data and research. It notes Sultan Nazrin “launched his first flagship publication Charting the Economy: Early 20th Century Malaya and Contemporary Malaysian Contrasts in January 2017,” which broke new ground in understanding Malaya’s economic performance under colonial rule vs post-independence( ehm.my). It also notes a second volume (methodology) was prepared. Further, it records that in July 2019 he published Striving for Inclusive Development: From Pangkor State to a Modern Malaysian State, analyzing Malaysia’s transformations and remaining challenges, calling for an inclusive Malaysia(ehm.my).
  10. EHM – About the Project. Describes the Perak-focused research starting 2020, covering how “British colonialism took over from Perak’s traditional governance, exploiting tin and rubber,” and examining sub-themes like colonial legacy, federal-state relations, etc., with global parallels(ehm.my). It notes the outcome as Sultan Nazrin’s third book Globalization: Perak’s Rise, Relative Decline, and Regeneration, published June 2024 by Oxford University Press(ehm.my).
  11. EHM – About HRH. Quotes Sultan Nazrin from an Oxford-Cambridge Society dinner (2008) on monarchy’s role: “The monarchy in Malaysia has discretionary powers… but also responsibilities beyond what’s written. Rulers cannot be deaf, blind and dumb to critical issues… They must be voices of impartiality, fairness and reason… and must adapt to new realities to remain vibrant.”(ehm.my).
  12. Malay Mail“Sultan Nazrin: Monarchy not just decorative ornament” (7 May 2015). Reports on his inaugural address as Sultan of Perak, where he stated “the monarchy does not merely play the role of a ‘decorative ornament’… [it is] one of the main pillars of the nation’s unity and harmony.” It mentions his speech’s rich content (Qur’an passages, historical anecdotes) and his description of the monarch’s role as a bipartisan upholder of justice and fairness(malaymail.com). It also quotes him: “Thus, the monarch has to be energetic, dynamic and convincing while also fulfilling his duty as a unifying presence,” and notes he likened the monarchy to an umbrella uniting the people in a divided landscape(malaymail.com).
  13. ISEAS PublishingThe Monarchy in Contemporary Malaysia (Public lecture by Raja Nazrin Shah, 27 July 2004 in Singapore). A 26-page paper published from his lecture on the modern role of monarchy, indicating early engagement with such intellectual discourse (13)(bookshop.iseas.edu.sg).
  14. Harvard Club of Malaysia – further notes. Highlights that Sultan Nazrin has “written articles and spoken on a wide range of issues including constitutional monarchy, nation-building, governance, Islam, Islamic finance, ethno-religious relations, education, and socio-economic development,” reflecting his broad intellectual interests(harvardclubofmalaysia.org).
  15. Malay MailSultan Nazrin launches book on history of Perak Sultanate (3 July 2018). Details that Sultan Nazrin launched a book titled “Perak Sultanate: The Historic Royal Glory of Perak Tengah,” published by UTP, which covers Perak’s cultural heritage and history. During the launch, he spoke about how the book captures important historical dynamics and challenges faced by past rulers, linking them to the state’s present stability and prosperity(malaymail.com).
  16. Economic History Malaysia – quotes of Sultan Nazrin. For example, at the Pangkor Dialogue 2017, he said “Education contributes to development by empowering individuals… imperative for education systems to stay ahead in competitive times.” And at Khazanah Megatrends Forum 2014, he emphasized inclusiveness and sustainability: “the ethos of inclusiveness and sustainability should form the lynchpin of our economic philosophy… growth must be sustainable across generations”(ehm.my).
  17. EHM – About HRH. Notes Sultan Nazrin’s engagement with diverse groups and forums, stating he “reaches out to young Malaysians, graduates, professionals (e.g., Inter-Pacific Bar Association) and international Islamic finance community… presenting on constitutional monarchy, nation building, governance, education, socio-economic development, etc.”(ehm.my).
  18. EHM – About HRH. Describes Sultan Nazrin as “a friend of intellectuals everywhere” with a “seemingly insatiable appetite for knowledge.” As UM Chancellor, “his diligence, erudition and fairness are a source of inspiration to staff and students”. This speaks to his role in academia and influence on educational institutions(ehm.my).
  19. Harvard Club / UN roles. Sultan Nazrin was appointed Co-Chair of the UN High-Level Panel on Humanitarian Financing (2015) by the UN Secretary-General, reflecting international recognition of his expertise. He also served as Malaysia’s Special Envoy for Interfaith and Inter-Civilisational Dialogue at the UN Alliance of Civilisations, underlining his involvement in global discussions on cultural and religious harmony(harvardclubofmalaysia.org). These roles complement his intellectual and moral leadership at home.