Eh so is high GDP or low GDP better?

[tomychua]

Article Source: http://goo.gl/3uy1R1

Is low / slow growth for our economy good like what opposition always want?
WITH POOR GDP, YOUTHS ARE FIRST TO SUFFER

Singaporeans have a strange attitude towards GDP. The lower it goes, the more relived we seem to be. We have associated economic growth with all the ills of a growing Singapore: packed trains, wage gap, crowded environments etc.

The man in the street is unfazed by our performance. He frequently complains why his salary isn’t rising as fast as the Straits Times Index (well, up until last year at least).

To put it very bluntly: a strong economy isn’t just about you and your wallet. The life and death of every sector of this island-state hinges on our performance, on our place in the world. Borrowing from Chinese wisdom, it is not about “eating rice or porridge”. It is more between eating rice or grass.

High tax on labour, unfair competition and high minimum wages are other contributors to the disease of unemployment.

And when there are too many young, unemployed people… social problems start to fester. They’re idealistic, restless, frustrated and angry. A very potent mix.

Read the full article here

 

[scroobal]

Its a terrible article. People would not complain about high GDP if the benefits trickles down to everyone in the country who have contributed. When you have engineers driving taxis, a huge chuck of PMETs underemployed and which good class bungalows continuing to appreciate, the rising GDP is not the panacea. Anyway the site is mainly associated with copywriters and those in advertising industry as well as enthusiastic writers. Not content experts. Might as well ask them how to do hysterectomy. I bet it will be a well written article literature wise.

 

[Sauron]

What GDP? No such thing at Mordor.

 

[AndyBogard]

No GDP is the best.

 

[winnipegjets]

High tax on labour, unfair competition and high minimum wages are other contributors to the disease of unemployment.

Total bs.

Look at Denmark ...people are happiest in the world. Why not? When the major expenses in life - healthcare, pension, unemployment support, education and childcare - are taken care of by the state through taxation, you can sleep soundly. That's a middle class society. But does not stop individuals from striving to be wealthy as there are many who are living the high life as well.

The reality is that most people will not be able or want to sacrifice to be wealthy. But a comfortable middle class existence is achievable for all with the pooling of funds (aka taxes).

I will gladly pay 50 percent, even 60 percent tax, if those five major expenses in life is taken care of, enabling me to live a carefree life.