Investing capital in people
Those of you reading this book all have one marketable asset in common, a knowledge of the English language. If you are earning a living this asset probably adds at least $300 a year to your income. Most of you did not acquire this source of income in the ordinary process of growing up. It was the result of an investment by your father and probably a larger investment by the Government. You probably have other assets of this kind too, built up by an investment in your hands or brain. Sultan Abu Bakar’s father evidently made a prudent choice by investing in his son’s English education, whereas Sultan Ali clearly miscalculated in charting the educational path for his children. As history later showed, this misstep proved disastrous for the House of Hussein, founded by the eldest son of Mahmud III (d. 1811), who had been installed by Raffles in 1819. The same rational judgment was upheld by Sultan Ibrahim (b. 1873, d...