Hard Choices: Challenging the Singapore Consensus by Sudhir Thomas Vadaketh

By Sudhir Thomas Vadaketh

Singapore is altering. The consensus that the PAP executive has built and maintained over 5 a long time is fraying. The assumptions that underpin Singaporean exceptionalism aren't any longer permitted as simply and without problems as sooner than. between those are the tips that the rustic is uniquely weak, that this vulnerability limits its coverage and political ideas, that solid governance calls for a level of political consensus that normal democratic preparations can't produce, and that the country’s luck calls for a aggressive meritocracy followed through fairly little source of revenue or wealth redistribution.

however the coverage and political conundrums that Singapore faces at the present time are advanced and defy effortless solutions. faced with a political panorama that's prone to turn into extra contested, how may still the govt. reply? What reforms may still it pursue? This choice of essays means that a far-reaching and radical rethinking of the country's rules and associations is critical, whether it weakens the very consensus that enabled Singapore to reach its first fifty years.

Show description

Read Online or Download Hard Choices: Challenging the Singapore Consensus PDF

Best urban & regional books

New Directions in Economic Geography (New Horizons in Regional Science)

This crucial ebook explores unique and replacement instructions for monetary geography following the revolution triggered by way of the appearance of so-called 'new fiscal geography' (NEG). while, to some degree, the quantity might be considered as a part of the inevitable inventive destruction of NEG thought, it does advertise the continued function of theoretical and empirical contributions inside spatial fiscal research, within which the explanation of clinical research and fiscal good judgment continue a vital position.

Applied Urban Economics, 1st Edition

This quantity is a follow-up to the sooner city Economics, quantity 2 of instruction manual of nearby and concrete Economics, edited through Edwin generators. the sooner quantity, released in 1987, focussed on city monetary concept. This new instruction manual, against this, specializes in utilized city examine. the adaptation is naturally in emphasis.

Hard Choices: Challenging the Singapore Consensus

Singapore is altering. The consensus that the PAP govt has developed and maintained over 5 many years is fraying. The assumptions that underpin Singaporean exceptionalism aren't any longer authorised as simply and comfortably as ahead of. between those are the guidelines that the rustic is uniquely weak, that this vulnerability limits its coverage and political thoughts, that sturdy governance calls for a level of political consensus that normal democratic preparations can't produce, and that the country’s good fortune calls for a aggressive meritocracy observed by way of particularly little source of revenue or wealth redistribution.

Airline Economics: An Empirical Analysis of Market Structure and Competition in the US Airline Industry

This e-book provides an unique empirical research of the industry constitution of airline urban pair markets, laying off new gentle at the workings of aggressive procedures among companies. reading a cross-section people airline urban pairs, Tabacco proposes for the 1st time that the might be understood as a usual oligopoly, each one airline industry being ruled by way of one to 3 airline vendors despite industry dimension.

Extra info for Hard Choices: Challenging the Singapore Consensus

Example text

We should not forget that a major factor in the downfall of the medieval Italian city-state of Venice was the diversion of entrepreneurial capital and energy into property as the small land-area drove rising rentals and land prices, leaving the city with beautiful buildings that today are but a shell for visiting spectators to admire. Beyond these economic considerations, an increase to the already absolutely and proportionately large numbers of temporary foreign workers and new immigrants has resulted in social pressures and political tensions that threaten to make Singapore less liveable and less attractive to foreigners turned off by the perceived hostility of natives, as well as natives who feel their livelihood, lifestyle and national identity undermined by the overwhelming presence of foreigners.

While this outcome may be difficult to accept, it is nevertheless the case that there are wide differentials in people’s ability and that these are reflected in wide income disparities. Attempts to reduce these pay differences—say by introducing minimum wage legislation—lead only to inefficient and rigid labour markets. Consequently, it follows that the best way to increase the incomes of middle and low wage Singaporeans is to increase their productivity. That their wages have been growing slowly in the last decade is the result of their stagnant productivity levels.

So long as my income is rising, I should be happy and should not begrudge my neighbour’s income rising at a faster rate. To do so is irrational, and governments should not pander to my irrationality or green-eyed envy by redistributing income from my neighbour to me. Parents should also teach their children to be satisfied with what they have and not compare themselves with those who have more. What the Evidence Says To begin with, conventional economics does not prescribe that distributional concerns should be subordinate to growth objectives.

Download PDF sample

Rated 4.90 of 5 – based on 32 votes