“The Market for Lemons” & ‘Foreign Degrees’
The Economist is running this week with ‘Six big economic ideas: a collection of briefs on the discipline’s (economics) seminal papers’. I will use some of these ideas to offer a different way to look at our current conundrums. George Akerlof, “The Market for Lemons”: Akerlof used the 2nd hand car market to illustrate...
How much tax for an Apple eating Europe?
The back tax bill is €13bn (or SGD$ 19.75bn) according to Margrethe Vestager, the European Commissioner for Competition. What does SGD$ 19.75bn means? For a proper perspective: 1. The total corporate tax in Singapore for FY 15/16 is SGD$ 13.8 bn, 2. Our total tax collection for the same period is SGD$ 44.8 bn, 3. Our defense...
Dignity for the Poor in Singapore
Saw this elderly cardboard collector yesterday at Chinatown quietly emptying cardboard on to his trolley near the OG hawker centre. We were happy to spot him after walking aimlessly for an hour without any result. We approached and gave him our angpow. He took it without any expression and continued his work. He seems agile...
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