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Archive for the ‘Economy’ Category

Detrimental Effect of Rent Seeking Economy

I was thinking of taking a break from writing Labour Day message for this year but something inside me give me that urge to write on Rent-Seeking Economy. This is a topic which I have in mind for a long time since last GE2011. What is a "Rent-Seeking Economy"? This is actually a technical economic term which any economic student...

Workers say no to wage hike

While the workers of the world rose in protest over their low wages, the workers here were celebrating their good fortune. All of them looked so happy, and so rich. And they expectedly rejected the shock therapy of Lim Chong Yah that offered them a 50% pay rise in 3 years. Unbelievable! I think the workers are reading Lim...

What is there for labour to celebrate this Labour Day?

"Higher wages push up business costs, affect our competitiveness, and may cause higher inflation" - PM Lee Labour Message. [Link] Our inflation is 5.2% [Link] and largely due to housing, rentals and transport cost increases. Instead of doing more to bring down inflation in Singapore, our prime minister on Labour Day, sends...

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