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Wise word of Mr Wong for All Singapore
- Thread starter k1976
- Start date
We will be worse off’: Singapore’s DPM Wong says change in mindset needed over materialism, career ‘arms race’
- Wong asked citizens to change the mindset of being goal oriented or focusing on traditional ‘prestigious’ jobs, and to consider ‘the journey’ as a measure of success
- Singapore, which has a reputation as a global trade and financial hub, is one of the wealthiest countries in the world, but concerns about income disparity are mounting
“If we keep pushing in that direction, my house must be bigger than your house, my pay cheque must be bigger than your pay cheque and my status in life must be higher than your status in life, are we going to be happier? I seriously doubt so,” he said during a panel discussion.
“We’re just going to be caught in a rat race, in an arms race and everyone will be worse off,” said Wong who is Deputy Prime Minister and Minister of Finance.
“We’re just going to be caught in a rat race, in an arms race and everyone will be worse off,” said Wong who is Deputy Prime Minister and Minister of Finance.
Wong also asked Singaporeans to change the mindset of being goal oriented or to focus on traditional “prestigious” jobs such as banking, and to instead consider “the journey” as a wider measure of success.
“That broader sense of success is not just in terms of specific professions or jobs, but thinking of success as a journey … there will be ups and downs, there will be setbacks, there will be obstacles,” he said, adding that having multiple careers too could also be a form of success.
“That broader sense of success is not just in terms of specific professions or jobs, but thinking of success as a journey … there will be ups and downs, there will be setbacks, there will be obstacles,” he said, adding that having multiple careers too could also be a form of success.
“A lot of the mindsets today are also status-conscious, very hierarchical. Even within the bank, some jobs are more prestigious than other jobs.”
Wong said this renewed definition of success also included being able to consider all kinds of “non-traditional” jobs, such as being a chef or starting a mechanics workshop which have been culturally shunned due to lower pay.
Wong said this renewed definition of success also included being able to consider all kinds of “non-traditional” jobs, such as being a chef or starting a mechanics workshop which have been culturally shunned due to lower pay.
Non-monetary satisfaction such as good relationships and families, community participation in the are equally important even though they were not “captured in our GDP”, Wong added. He encouraged business and community leaders to help enact this change.
The island state, which has earned a reputation as a global trade and financial hub and as a luxury low-tax base for the super-rich, has seen a huge rise in wealth in recent decades – but at the same time concerns about income disparity are mounting.
The island state, which has earned a reputation as a global trade and financial hub and as a luxury low-tax base for the super-rich, has seen a huge rise in wealth in recent decades – but at the same time concerns about income disparity are mounting.
Income inequality in fact has been declining in the country, though the middle class has been hit by the rising cost of living.
These concerns were addressed at other panels at the conference.
Minister of Education Chan Chun Sing emphasised Wong’s remarks in a speech about meritocracy said that Singaporeans must consider success and happiness beyond individual wins.
These concerns were addressed at other panels at the conference.
Minister of Education Chan Chun Sing emphasised Wong’s remarks in a speech about meritocracy said that Singaporeans must consider success and happiness beyond individual wins.
And that included broader contributions to society, he said.
“Let us recognise that our individual success is not just due to our own abilities and hard work, but also due to the opportunities given to us by the system and the support of those around us,” Chan said.
“If we can all do this, then Singapore’s brand of meritocracy will unite us instead of dividing us … it is not just about us pulling ahead of the crowd, but it is about us bringing everyone along together.”
“Let us recognise that our individual success is not just due to our own abilities and hard work, but also due to the opportunities given to us by the system and the support of those around us,” Chan said.
“If we can all do this, then Singapore’s brand of meritocracy will unite us instead of dividing us … it is not just about us pulling ahead of the crowd, but it is about us bringing everyone along together.”
Mr Wong stated, “Success is less about means, and more about meaning.” His words were directed at reframing how society values professions, arguing that not only those at the top of their fields or those launching successful start-ups should be celebrated, but also “those who serve in retail, hospitality or social services; or those who take great pride in their work as skilled tradesmen and artisan craftsmen.”
While this sentiment is noble and desirable, it does not mirror the current labour market in Singapore. This market favours specific sectors and has left the majority of occupational categories — six out of eight categories within the resident workforce — struggling to achieve real wage growth in the past 21 years.
While this sentiment is noble and desirable, it does not mirror the current labour market in Singapore. This market favours specific sectors and has left the majority of occupational categories — six out of eight categories within the resident workforce — struggling to achieve real wage growth in the past 21 years.
DPM Wong went on to say, “Our refreshed Singapore Story therefore must be more inclusive.”
Unfortunately, the existing narrative is one of stagnation for six out of eight occupational categories, with their wages largely unchanged over two decades. Such a situation seems far from inclusive, creating a disconnect between Mr Wong’s speech and the lived reality of many Singaporeans.
Unfortunately, the existing narrative is one of stagnation for six out of eight occupational categories, with their wages largely unchanged over two decades. Such a situation seems far from inclusive, creating a disconnect between Mr Wong’s speech and the lived reality of many Singaporeans.
To compound this, the Finance Minister highlighted the country’s success by pointing out, “Among the advanced economies, we are one of the few where people in the middle have enjoyed significant increases in real incomes in the last 20 years.”
This claim, however, masks the fact that an influx of more than 400,000 new citizens and over 600,000 Permanent Residents (PRs) in the last 20 years or so — who typically earn more than native Singaporeans — has likely influenced these statistics.
This claim, however, masks the fact that an influx of more than 400,000 new citizens and over 600,000 Permanent Residents (PRs) in the last 20 years or so — who typically earn more than native Singaporeans — has likely influenced these statistics.
Mr Wong further drew comparisons with other countries, stating, “In particular, median household real income growth over the past decade was higher than what the middle-income in the US and most other European societies experienced, and well above other Asian societies like Japan and Hong Kong.”
This contrast becomes less striking when one considers the socio-economic conditions in these countries, such as their higher minimum wages, shorter work hours, and more robust social welfare systems. Compared to these countries, Singapore falls short in many of these aspects.
This contrast becomes less striking when one considers the socio-economic conditions in these countries, such as their higher minimum wages, shorter work hours, and more robust social welfare systems. Compared to these countries, Singapore falls short in many of these aspects.
Consideration also needs to be given to the adequacy of social welfare benefits. For instance, Singapore’s ComCare assisted more than 80,000 beneficiaries with less than S$200 million (pre Covid). The perspective changes further when not just the median employed resident households are considered, but the entire spectrum across deciles, particularly the lower deciles, while also adjusting for purchasing power parity (PPP) vis-a-vis the cost of living.
As Singapore works towards its refreshed narrative, we must confront the reality that the lofty ideals of equality and inclusivity espoused by DPM Wong are still far from being realised.
The stagnant wages across various sectors serve as a stark reminder that the current socio-economic policies and structures need to be critically evaluated and reformed.
As Singapore works towards its refreshed narrative, we must confront the reality that the lofty ideals of equality and inclusivity espoused by DPM Wong are still far from being realised.
The stagnant wages across various sectors serve as a stark reminder that the current socio-economic policies and structures need to be critically evaluated and reformed.
ze gahmen is clearly bankrupt of ideas in reducing incum disparity ...
he wans 2 change sinkie mindset wen iz in ze sinkie genes 2 1 up u? ...
juz like ze chinese saying 望梅止渴 ... tis burger is telling peasants 2 master bate 2 orgasm imagining dat u r successful ...
The PAP regime can no longer provide the economic goods like in the good old days, so best to lower your expectations. 
That Faustian deal of letting one political party silence you and micromanage your lives in exchange for economic perks is also becoming seemingly less of a good deal.
That Faustian deal of letting one political party silence you and micromanage your lives in exchange for economic perks is also becoming seemingly less of a good deal.
Totalitarian regimes (big, overreaching governments) always seek to remove or reduce the middle class, then pit the super rich against the super poor against each other so they will not see the true enemy. From this kind of government, the rich will seek favours from connections, while the poor will seek handouts. Both groups thus become enslaved to the system.
Recognize the true enemy: a government that is neither small nor limited.
time for sinkies to upskill with uptron to up other sinkies on keeping up with upper jobs and upper pay. and then do upskirt as a pastime and hobby during downtime.
Great. This place going to hit a wall earlier than I expected.
Better learn to speak the national language.
Better learn to speak the national language.
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