Who is Jomo KS and Why are We Talking About Him?

The Rumble and Tumble of Wall Street

Dr Jomo Kwame Sundaram (born 11 December 1952), better known as Jomo KS, is a Malaysian economist, is currently serving as the United Nations Assistant Secretary-General for the Economic Development in the United Nations Department of Economic and Social Affairs (DESA). Jomo was one of the supporters of capital control measures taken to curb speculation during the Asian financial crisis in 1997.

Recently, after the wake of the sub-prime mortgage crisis that has caused the global economy to be in a state of instability, Jomo has reemerge and is currently at large.

“We have to be honest and be willing to speak the truth to power.” said Jomo in an article in the Star newspaper (21 Feb 2009). This statement alone is a good description of Jomo’s willingness to speak up to authority.

Jomo warned of the great vulnerability of the financial and economic system over two years ago and predicted that the likelihood that a major financial crisis would spark a more general and devastating economic crisis.

Sadly, when he identified the US sub-prime mortgage market segment as the ‘Achilles heel’ of the financial system, his views were ignored. Together with fellow economist Nouriel Roubini (Doctor Doom) and Robert Shiller, Jomo made known his views on the global economy in January 2007.

They were however, ignored and labelled as ‘prophets of doom.’

(Sometimes I do not understand why they say economists lack humor and is normally called dismal science)

The ‘prophets of doom’ continues to warn that the economic is still suffering from fundamental and systemic problems that would prove hazardous should they be left unresolved.

Don’t you think we should listen to them this time?

Facts

~ Jomo Kwame Sundaram is named after two African nationalists (Kenya’s Jomo Kenyatta and Ghana’a Kwame Nkrumah)

~ age 57

~ Married to Noelle @ Noer Rodriguez and has three children

~ Has authored over 35 monographs, edited over 50 books and translated 12 volumes besides writing many academic papers and articles for the media.

~ In 2007, he was awarded the Wassily Leontief Prize for Advancing the Frontiers of Economic Thought

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