We can’t build economic efficiency or social justice simply in the way we have tried before. It won’t be enough to rely on a deregulated market economy providing the tax revenues for redistribution … The critical insight of Labour in my generation is that both wealth creation and social justice need to be built into the way our economy works. The leader of the UK Opposition, Ed Milband recently.
I hope the PM realises that wealth creation and social justice need to be built into the way our economy [and public administration*] works. (*My addition.)
I concede that economically, the PAP got most things right. My main grouse is that the casinos should have come a decade earlier.
It’s on social justice that I fault the PAP.
Take Workfare. I prefer Workfare to Minimum Wage in principle. But the take home pay component is pathetic — $250 a year in one case . True poor people need money in old age (if they don’t starve to death or die prematurely thru malnutrition in the meantime) but they also need money now.
Building wealth creation and social justice into the fabric of the economy and public administration can help govmin achieve its policy objectives. Social justice shld not be looked at as mere expenditure. E.g. if poorer S’poreans felt that there was social justice, they would be less resistant to the liberal immigration policy, or the call to be “cheaper, better faster”. Economy grows, govmin is happy and so are the people.
And help the ambition of the PAP to continue dominating politics here. Do the right thing wealth creation and social justice, not juz say it; and I for one wouldn’t mind another 50 years of the PAP in power.
I’m in my mid 50s and all things considered I would have voted PAP from 1959 to 1991, based on what the PAP did in terms of wealth creation and social justice. From then on, I wouldn’t, because social justice became mere words.
Thoughts of a Cynical Investor 
[…] Minimum Wage – flaneurose: The Government’s Argument Against the Minimum Wage – TOC: Minimum wage: The problem or the solution? – Tan Kin Lian’s Blog: Minimum wage and loss of jobs – Sg Pirate Game: Minimum Wage: Another Perspective – Thoughts of a Cynical Investor: Coming EGM: wealth creation and social justice […]
I agree with some of what you have to say abt minimum wage. I was just wondering what is your opinion on the relationship between low cost manufacturing and wages?
I came across this. Perhaps it can add some perspective to your POV.
Casinos I am not so sure that is good wealth. As you may strike it rich one day, but on another day, you give it all to the house. furthermore gambling is a very bad habit.
On the industrial front, HR recruiters from S’pore have to go places like Xian to recruit skilled labour. Even central China cities are too expensive.
Problem is S’pore wants to do basic manufacturing because govmin afraid of hollowing out the base.
It sounds irrational but even if the PAP does walk the talk on social justice now, I wouldn’t even want to see any of them for the next 5 years, let alone 50 years. This is the difference between your generation and some of mine.
No it’s not irrational.
I’ll explain it either later this week or next week, using waz happening in M’sia to illustrate it. So keep visiting.
[…] then on, I wouldn’t, because social justice became mere words.Coming EGM: wealth creation and social justice « Thoughts of a Cynical Investor wealth creation fabric, jus, labour, minimum wage, public administration, tax revenuesComments […]