HK used to be called a free wheeling capitalistic place but if you
go there they have state pensions for old to retire, free medical care ,
...they spend 18% of their budget to take care of the health of the people
compared with 9% in Singapore which is the lowest in the developed world.
They have minimum wages, independent unions that can call strikes.
Even in US, they have medicare, Medicaid and now Obamacare. They have social security.
They also have minimum wages....recently fast food workers went on strike to improve their wages and working conditions.
In Singapore the pap runs a political economy ...on the surface it looks capitalistic...low
taxes, self reliance is always preached, high tolerance for poverty and rising income gap...winner take all, losers fall. But pure capitalism with all the free competition it does not have, much of it consists of monopolies run by elites in the pap system. Distorting the economy to benefit the elite class bred by the pap system producing a system 'worse of all worlds' for the ordinary citizen. To artifcially hold
power in the distorted system, they had to undermine democracy by controlling newspapers, suppressing opponents and tweaking election bundaries, GRCs, upgrading pork barrels in order to
concentrate power into their hands resulting in an extremely unequal society with a poor outcomes for a
large proportion of the citizens
go there they have state pensions for old to retire, free medical care ,
...they spend 18% of their budget to take care of the health of the people
compared with 9% in Singapore which is the lowest in the developed world.
They have minimum wages, independent unions that can call strikes.
Even in US, they have medicare, Medicaid and now Obamacare. They have social security.
They also have minimum wages....recently fast food workers went on strike to improve their wages and working conditions.
In Singapore the pap runs a political economy ...on the surface it looks capitalistic...low
taxes, self reliance is always preached, high tolerance for poverty and rising income gap...winner take all, losers fall. But pure capitalism with all the free competition it does not have, much of it consists of monopolies run by elites in the pap system. Distorting the economy to benefit the elite class bred by the pap system producing a system 'worse of all worlds' for the ordinary citizen. To artifcially hold
power in the distorted system, they had to undermine democracy by controlling newspapers, suppressing opponents and tweaking election bundaries, GRCs, upgrading pork barrels in order to
concentrate power into their hands resulting in an extremely unequal society with a poor outcomes for a
large proportion of the citizens
