Sunday, January 20, 2013

Sustainable growth

The ruling Government's preferred policy is to focus on growing the economy, so that more jobs can be created for the people. Many pro-PAP thinks that this is the right policy. I wish to point out a flaw in this policy, that is manifested in the approach adopted in Singapore.

We have to differentiate between good growth and bad growth. 

Good growth are economic activities that benefit the people, such as in providing goods and services that improve the quality of life. They include education, health care, housing, recreation and family (i.e. more babies).

Bad growth are economic activities that are counted, but are bad for the people, including the following:

- casinos
- property bubbles
- bad financial products and scams
- cheating, crime
- wasteful and unnecessary activities
- import of low wage foreign workers

Many bad activities generate income for some people, e.g. casinos, financial institutions, property developers and their employees and agents, but are at the expense of the consumers who lose money in the casinos or bad financial products, or have to pay inflated property prices. Some of these activities may be good, e.g. property development (not bubbles), but some are very bad.

If we can get rid of the bad activities and focus the economic growth on the good activities, we have a good foundation to grow the economy. This is called "sustainable development". 


michael13 said...

To ensure a "sustainable development", we need to achieve a much higher productivity. Higher productivity requires the full co-operation from the people. Right now, the PAP government under PM LHL is unable to command the necessary respect - enough trust and confidence of the wider population.

To begin with a "REAL CHANGE" - voting in more Opposition Party Members into Parliament is crucial at this moment(by-election at the Punggol East on 26 January, 2013).

In this instance, I choose the Worker Party. Mr Low Thia Khiang put it candidly at the WP rally speech: "Don't let PAP take you for granted."

yujuan said...

We paid a short visit to Punggol East WP rally last evening and stayed for half hour.
A fascinating scene, the field in front of the stage was very wet, and people just stood around it and at every staircase landings of the HDB blocks, many with umbrellas, raincoats and stools.
The multi storey carpark was full of outside visitors, but what's such a big deal about an opposition political Party rally.

Rubel said...

What an awesome idea! They look great. I’d like some advice too. Thanks for sharing.....Victor Jung, Chairman and CEO

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