From Wealth Creators With Wealth Extractors

Being innovative means doing things differently or doing things that have never been done before. An innovator is someone who has embraced this idea and creates environments in which push boundaries are pushed and achieve growth and profit.

The characteristic of great innovators and great is they see a space that others do not. They don’t just listen to what people tell them; they actually invent something new or tweak the way things are done. They do not harp on old ideas, systems or their past glory or
achievements.

These words emphasize that innovation is about turning a vision into new things . I think ultimately that is true. But I also think there is more to it. I think innovation also is the ability to re-imagine things that already are.

I believe the PAP was once an innovator, in some sense in the socioeconomic paradigm. They were once wealth creators . But over time the party lost the plot. The reasons behind this can be multi faceted. Manufactured meritocracy and inherited aristocracy is the major reason why PAP failed to continue its winning streak and to become complacent The halt, which somehow happened in their thinking with the 4th generation leaders made them became wealth extractors instead.Inherited success does not last long without  continued innovation or driving factors.The 4th generation leaders should realise that.

Wealth extractors do not have much capacity for innovation. The distinction between wealth creation and wealth extraction is an important one. We all want investment that makes new things happen in the world, that creates jobs and builds something out of nothing. But not all wealth is that kind of investment. Some of it is extractive – it relies on charging others for access to an existing  asset, rather than creating anything new.

Wealth extractors have little to contribute to innovation or progress but on the contrary create disadvantageous situations for those whom the reap.

Unproductive income is derived from control of an already existing asset, such as land, buildings, technology, or money, that others lack but need or want, and who can therefore be charged for its use. Those who receive it are ‘rentiers’. Mere ownership or possession
produces nothing, and so any return to an owner merely for access or use is something for nothing.

This is the state of singapore today. It has gone down a slippery slope of decline.

 

Mike

 

 

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13 Responses to “From Wealth Creators With Wealth Extractors”

  • Bapak:

    Mike, if 70% like to bend down and let PAP asses their backsides on the daily basis yet still happy, there is nothing we can do, period. Damn the idiotic stupid Sinkies.

    Should one day PAP is thrown out, this Sinkies70 group must be sent to the concentration re-education camps to rewire their brains. Cut grass, pluck roots. Otherwise, PAP will come back.

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  • The Other Hard Truths:

    Superb analysis….but it is a very hard lump for the MIW to swallow. They have become victims of their own myths

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  • The Other Hard Truths:

    These are some of The Other Hard Truths that keep Singapore stumbling. LKY did not want to admit it nor even see it coming

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  • oxygen:

    MIKE IS RIGHT of “rentier”, Sinkies obsession with all things of UNPRODUCTIVE “property” ownership bought out of a mountain of debt is INSANELY STUPID.

    But the mindset won’t change for this generation. They have got to be completely wiped out BY THE GLOBAL DEBT CRISIS IMPLOSION to wake the NEXT GENERATION UP of the inherent dangers of property gambling unproductive pursuit.

    IT IS A REAL GOOD VIRTUOUS OUTCOME if and when that happens.

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  • NotMyProblem:

    When PAP out sourced or sold everything to third parties, it just killed all innovations. PAP has nothing left for innovation, the third parties are not motivated to innovate. So thing just as it is or getting worse.

    This PAP is a lazy government. Pass everything to 3rd parties, including responsibility. When something bad happens it is the fault of others. The the case of the HIV+ data thief, credential and medical status were checked by a 3rd party, MOM has no responsibility, just issue passes. The Poly that employed this data thief based on MOM’s approval without checking his fake credential.

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  • oxygen:

    SINKIES CRAZY OBSESSION WITH ALL THINGS PROPERTY gave PAPpys a god-send platform to intensely engage in asset extraction via the CPF/HDB route when CPF itself are already a instrument of backdoor tax (paying members less than what is earned of invested CPF capital).

    Now peasants have no property (lease rental which is why it is called a LEASE BUY-BACK, not property buy-back if you are awake at this very moment of read), depleted CPF and staring at unaffordable health care bills in old age.

    But 70% of the daft too stupid to even begin to discover they are stupid to impossibility rightly deserves this outcome.

    THEY GOT WHAT THEY BARGAINED FOR AT LEAST.

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  • PAP.GUARANTEE.WIN.GE2019:

    @Mike

    What’s wrong with collecting more money ?

    To use your words, what’s wrong with extracting more wealth ?

    Do you know why opposition supporters are complaining ?

    Opposition supporters are complaining because they cannot extract more wealth from working a job due to their laziness.

    Everyone is trying to extract as much wealth as possible using all means!!!!

    Our flounding father also said nothing wrong with that….

    PAP.GUARANTEE.WIN.GE2019
    Coward Hide behind monikers opposition supporters sure lose GE2019…

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  • HarderTruths:

    If the writer is talking about the first generation of pappies then ys – they helped the country in a big way. It was the people who bore the burden of 1% innovation and 99% hard work.

    Credit must be given to the people not the government. But the propaganda machine always credits the success with the government.

    Let us see how true their belief and capability is – now their own fools and the FT are running the show. It will be very entertaining.

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  • Pro Ah-long Party:

    For wealth creation and innovation, one needs only to look at China!
    What happened in the 30 years since GCT and LHL became PMs?

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  • The trouble with crony govt.:

    It is easy to make the case against “fat cat” businessmen profiting off political connections, but it’s a totally different order to expose well-organised government-linked business corporations that stifle true capitalist laissez-faire enterprise; and tilt the otherwise level playing-field in its own favour. Not every government is with the people.

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  • patriot of TUMASIK:

    Inventor – Innovator or whatever “fiack/fact TOR”…we are in the SHIT and it has to be CLEANSED…

    Get a Tractor & Dumpster and DRAIN the FarkingSwamp filled with Pigs wallowing in their swill after FEEDING on the people’s WILL to be a Nation, not an INC

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  • Contradiction:

    The rentier system works forthe older generation as a means to supplement their retirement income. I think this cannot be overlooked & Simply taken away.

    Going forward with all the high cost of Living without such refinement adequacy this is just one of the natural response to the current situation.

    To move away from this then the government has to address the fundamental issue of retirement adequacy.

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  • Spore PSP = Msia PH:

    PAP.GUARANTEE.WIN.GE2019:
    @Mike

    What’s wrong with collecting more money ?

    To use your words, what’s wrong with extracting more wealth ?

    Do you know why opposition supporters are complaining ?

    Opposition supporters are complaining because they cannot extract more wealth from working a job due to their laziness.

    Everyone is trying to extract as much wealth as possible using all means!!!!

    Our flounding father also said nothing wrong with that….

    PAP.GUARANTEE.WIN.GE2019
    Coward Hide behind monikers opposition supporters sure lose GE2019…

    nothing original. no wonder clown pap is toppled GE2019. clap clap clap.

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