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Roots Of Discontent
In the ST Interview with visiting Professor Aneel Karnani from University of Michigan, it was quoted that the Gini coefficient has risen from 0.43 in 2000 to 0.452 last year. That puts the Singapore wage gap second-largest among the world's developed economies according a United Nations report. He said, "The sense I get is that Singapore has focused too much on growing the size of its economic pie and not enough on distributing it."
The guy who takes 20 minutes to give a haircut 100 years ago, still needs 20 minutes to complete the task today. For people engaged in similar work, productivity just doesn't rise. These are the folks who will never benefit from polices that grow the economic pie and make the country rich.
- http://singaporedesk.blogspot.com/2011/09/roots-of-discontent.html
In the ST Interview with visiting Professor Aneel Karnani from University of Michigan, it was quoted that the Gini coefficient has risen from 0.43 in 2000 to 0.452 last year. That puts the Singapore wage gap second-largest among the world's developed economies according a United Nations report. He said, "The sense I get is that Singapore has focused too much on growing the size of its economic pie and not enough on distributing it."
The guy who takes 20 minutes to give a haircut 100 years ago, still needs 20 minutes to complete the task today. For people engaged in similar work, productivity just doesn't rise. These are the folks who will never benefit from polices that grow the economic pie and make the country rich.
- http://singaporedesk.blogspot.com/2011/09/roots-of-discontent.html