WHAT IS WRONG WITH SINGAPORE?
Singapore is a rich country but the people are poor.
Well certainly not the elites but ordinary citizens are relatively poor compared to how rich the country has become.
Why is that?
The Nikkei analysis linked below provides us with an excellent summary of much that ails Singapore. This Nikkei article sets out several policy failures of the PAP Government that have caused several inter-connected problems in Singapore.
This is a standout read that delineates the systemic nature of the problems in Singapore that needs to be addressed. This analysis exposes the PAP Government’s inadequacies.
The PAP is now the longest remaining governing incumbent party in Southeast Asia that is mortally locked in the past unable or unwilling to embrace an alternative and better future for Singapore.
This analysis identifies the ideological basis of the PAP Government’s policies as “shareholder capitalism”; where the State must always profit over its citizens at the end of the day. Neoliberalism or “trickle down economics”. Unbridled state capitalism and greed.
In describing Singapore’s economic model, the Nikkei article states this:
“The economic model, which began as a mixture of socialist nationalism and paternalistic authoritarianism, before veering toward Thatcherite shareholder capitalism in the 1990s, has been much mythologized by free marketeers and aspiring autocrats worldwide.”
In other words, Singapore to me is run like a company and it would appear to me that the Government is more preoccupied with making money from its citizens than working for the welfare of its citizens.
Yeoh Lam Keong Singapore’s preeminent economist was quoted in the Nikkei article explaining the PAP ideology as it applies to HDB pricing policy in the following terms:
“The roots of Singapore’s current problems, Yeoh believes, were planted in the 1990s, when its politics lurched rightward. In line with the prevailing neoliberal thinking, the government moved toward a more market-based approach to the pricing and ownership of HDB flats.”
What we have is a systemic failure and we need to recalibrate the balance between unbridled capitalism and the welfare state or socialism; between profits and people.
Our policy frameworks transfers control of economic factors from the private sector and individuals to the public sector creating the imbalance that need to be fixed.
The PAP Government is a prisoner of its own failed policies and unless we vote for a more compassionate Government in place of the PAP Government, things will get from bad to worse for the ordinary citizen.