Paradox of Singapore’s Economic Growth: Relatively Higher Average Incomes But Relatively Lower Human Development
By Abdul Gafoor, Social Correspondent The recent publication of UNDP’s Human Development Index (HDI) revealed another paradox of Singapore’s economic growth strategy. The HDI ranks countries around the world according to “human development” and this is a common and standard index used by economists all around the world. The...
Paradox of Singapore Economic Growth: Economy has grown fast, labour income share remains dismally low
By Abdul Gafoor, Social Correspondent A closer look at the share of Singapore’s economic pie that goes to workers as incomes throws up another paradox. Singapore’s economy itself has grown more than 30 times. Despite the fact the country has been working hard with full devotion to continually continue high economic growth...
Avoiding and delaying “real change”
By Abdul Gafoor, Social Correspondent Whenever I have a tea or meal with a Singaporean politician or policy maker we will always end up talking about need for real change in the Singapore system. The conversation will start with denials and slowly and eventually he/she will admit there are flaws in the system though he/she will...
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