Question: can economy contract without unemployment rising?

[LITTLEREDDOT]

Question for economists: can economy contract without unemployment rising?

SG's population is ageing, leads to shrinking labour force. To sustain economic growth, govt opens the floodgates to immigrants and foreign workers.

How to stop the influx of immigrants and foreign workers? Slower pace of growth. Maybe even contraction, because as the population ages, there will be less demand for goods and services.

Only problem is the potential impact of economic contraction on employment. And since the aim is to keep out immigrants and foreign workers, the impact of unemployment will fall on the working citizens.

So is it possible to have our cake and eat it: a soft landing with full employment?

 

[Goh Meng Seng]

Yes, it can be done.

Goh Meng Seng

Question for economists: can economy contract without unemployment rising?

SG's population is ageing, leads to shrinking labour force. To sustain economic growth, govt opens the floodgates to immigrants and foreign workers.

How to stop the influx of immigrants and foreign workers? Slower pace of growth. Maybe even contraction, because as the population ages, there will be less demand for goods and services.

Only problem is the potential impact of economic contraction on employment. And since the aim is to keep out immigrants and foreign workers, the impact of unemployment will fall on the working citizens.

So is it possible to have our cake and eat it: a soft landing with full employment?

 

[LITTLEREDDOT]

Yes, it can be done.

Goh Meng Seng

Don't keep it to yourself. HOW?

 

[hairylee]

Yes, on paper it will.
But it is more critical to have meaningful employment and pay for the citizens.

 

[Cruxx]

Question for economists: can economy contract without unemployment rising?

SG's population is ageing, leads to shrinking labour force. To sustain economic growth, govt opens the floodgates to immigrants and foreign workers.

How to stop the influx of immigrants and foreign workers? Slower pace of growth. Maybe even contraction, because as the population ages, there will be less demand for goods and services.

Only problem is the potential impact of economic contraction on employment. And since the aim is to keep out immigrants and foreign workers, the impact of unemployment will fall on the working citizens.

So is it possible to have our cake and eat it: a soft landing with full employment?

Can. Issue more government bonds and create more non-jobs for useless Sinkies. If everyone were paid to dig holes and fill them up, nobody would be unemployed.

 

[GOD IS MY DOG]

Question for economists: can economy contract without unemployment rising?

SG's population is ageing, leads to shrinking labour force. To sustain economic growth, govt opens the floodgates to immigrants and foreign workers.

How to stop the influx of immigrants and foreign workers? Slower pace of growth. Maybe even contraction, because as the population ages, there will be less demand for goods and services.

Only problem is the potential impact of economic contraction on employment. And since the aim is to keep out immigrants and foreign workers, the impact of unemployment will fall on the working citizens.

So is it possible to have our cake and eat it: a soft landing with full employment?

of course can...................just the yearly inflation will guarantee increase in GDP.................so if official figures say recession, things are much more jialat than what the PAP says.................

 

[halsey02]

Don't keep it to yourself. HOW?

Just dig up the roads & repaved, & so forth...spend more on public projects..promote Euthanasia...hmmm or NEWFOOD..made from recycle people...

 

[Cruxx]

Just dig up the roads & repaved, & so forth...spend more on public projects..promote Euthanasia...hmmm or NEWFOOD..made from recycle people...

Indeed. What can be more important in life than jobs and GDP growth?

 

[monkey010]

Can. Issue more government bonds and create more non-jobs for useless Sinkies. If everyone were paid to dig holes and fill them up, nobody would be unemployed.

That's a good idea. but saf is doing that already. regulars do that.

 

[monkey010]

Indeed. What can be more important in life than jobs and GDP growth?

love. you must have love. not love your job. love your family. not love the famiLees.

 

[GoldenDragon]

Don't keep it to yourself. HOW?

Be patient, bro. GMS gives an answer first. When queried, he needs time to find answers to support his earlier answer.

 

[mojito]

Maybe even contraction, because as the population ages, there will be less demand for goods and services.

Slight correction: As the population ages, there will be less demand for some goods and services, such as education, public administration and housing, while demand in other sectors like healthcare and leisure/travel will increase (caveat: unless older folks hoard money). Unemployment in one sector will lead to redeployment in another in a closed labour market (as opposed to closed economy), but the downside may be a less effective workforce.

So is it possible to have our cake and eat it: a soft landing with full employment?

A closed labour market will ensure labour displaced in one industry gets deployed in another assuming it is a viable solution for businesses in the new growth industries.

Welcome discussions from one and all.

 

[Fook Seng]

Indeed. What can be more important in life than jobs and GDP growth?

More GDP growth and more jobs for foreigners.

 

[zhihau]

Be patient, bro. GMS gives an answer first. When queried, he needs time to find answers to support his earlier answer.

bro, is this our Winsemius #2?

 

[Bigfuck]

Decreasing GDP is not necessarily a bad thing. In fact GDP per capita above 10K USD starts to not make sense. Services that never had value to start with to gain in super value for fraudulent purposes. Why must a std haircut rise from 5SGD to 50GSD when the amount of hair and the effort and equipment to cut the hair be the same? Why must pay a PAP dog 1 million dollars for talking the same cock as 30 years ago? Why must GP charg 50SGD instead of 10SGD when still same medicine and same diagnosis every time? Why one stupid HDB must increase 20 times when it is still the same construction materials? If all go up in tandem can always revalue the currency - quick way to adjust for inflation, or all increase and everyone see more zeros. Because the economy has matured, frauds start allowing themselves to borrow into the future to screw the current real economy. If people borrow to build more machines to mine and build, there might be real GDP improvement, up till environmental costs become actualized.

 

[leetahbar]

Don't keep it to yourself. HOW?

this is just another ploy by gahmen to soft-threat the nation into remembering to vote for them in GE2016.

they create things like getting more pirate-copy singaporeans to " boost" economy which in actual and more important fact is to boost their voting victory which is dwindling rapidly.

 

[Fook Seng]

bro, is this our Winsemius #2?

You need a dowsing stick to find him.

 

[Fook Seng]

Decreasing GDP is not necessarily a bad thing. In fact GDP per capita above 10K USD starts to not make sense. Services that never had value to start with to gain in super value for fraudulent purposes. Why must a std haircut rise from 5SGD to 50GSD when the amount of hair and the effort and equipment to cut the hair be the same?

You are getting to the difference between nominal GDP and PPP GDP. Yes, economists, nowadays, are getting to think that PPP GDP is more important than nominal GDP. But over time, inflation has pushed up the prices of everything and in the case of Singapore, the PPP and the nominal GDPs are about the same. Not so for many developing countries with PPP figures very much higher than nominal figures, in some cases several times.

 

[Cruxx]

You are getting to the difference between nominal GDP and PPP GDP. Yes, economists, nowadays, are getting to think that PPP GDP is more important than nominal GDP. But over time, inflation has pushed up the prices of everything and in the case of Singapore, the PPP and the nominal GDPs are about the same. Not so for many developing countries with PPP figures very much higher than nominal figures, in some cases several times.

Boss, do you think I would trust a list that ranks Sinkieland as having a larger economy per capita than the likes of Norway, Denmark, Sweden, Switzerland http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita or a list that appeals to my intuition that Sinkieland isn't even fit enough to be included in the top ten? http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita

 

[GoldenDragon]

bro, is this our Winsemius #2?

He is but not recognised by anyone in authority.