commentary.
Saturday, July 12, 2008
i'm once again feeling emo, but to balance things a little here, i will discuss more...serious issues here. lol.
well, comfort delgro group of taxis is going to implement a 30cents diesel surcharge...bus and MRT fares are going to increase in october...
everything is going up. but not wages, which have been eroded by inflation.
i guess it is fair to say that inflation is the most serious problem that we're facing, at least in the short run. People are demanding for higher wages to help them cope with the inflation, but the Minister of Finance is against it, citing the likelihood of a wage price spiral as the reason. Being an economics student in Singapore, I must say there's some validity in his argument.
Previously, the government did suggest a one-off increase in wages. But not many firms followed, of course. So much for the healthy tripartite relationship. So even if the government suggests a even greater increase in wages during a time like this, firms may choose not to follow it at all.
So what should the government do then? Nothing?
Unlikely. They have already said they will help the lower income group through the implementation of a variety of policies. But are they enough?
In my opinion, no. I come from a middle income family, I know how little a monthly disposable income of less than $3000 is to support a family of 3, what more say a family of 4 or 5. And we are already considered the lucky ones, who receive little, if any, help from the government. There are so many other families out there who survive on less than a thousand bucks every month. Sad to say, their main source of help is from charitable organisations, not the government.
The government should be more generous in helping the lower income group. They, too, are Singaporeans. They contribute to the economy, albeit in the most insignificant way, some may think. Yet, they are the ones left suffering in times of turmoil...
I once thought of Singapore following a minimum wage system like how Canada does. But given how vulnerable we are as a small and open economy, this probably isn't a good solution. This only means that the government should do more to help...
And not have people selling organs just to make sure they have sufficient cash to live by.
Initially, I thought that having a market for the sale of organs is fine. Since both the suppliers and the buyers benefit from it, why not?
On second thought, the issue isn't that simple to start with.
I will continue next time, if I have the mood.
well, comfort delgro group of taxis is going to implement a 30cents diesel surcharge...bus and MRT fares are going to increase in october...
everything is going up. but not wages, which have been eroded by inflation.
i guess it is fair to say that inflation is the most serious problem that we're facing, at least in the short run. People are demanding for higher wages to help them cope with the inflation, but the Minister of Finance is against it, citing the likelihood of a wage price spiral as the reason. Being an economics student in Singapore, I must say there's some validity in his argument.
Previously, the government did suggest a one-off increase in wages. But not many firms followed, of course. So much for the healthy tripartite relationship. So even if the government suggests a even greater increase in wages during a time like this, firms may choose not to follow it at all.
So what should the government do then? Nothing?
Unlikely. They have already said they will help the lower income group through the implementation of a variety of policies. But are they enough?
In my opinion, no. I come from a middle income family, I know how little a monthly disposable income of less than $3000 is to support a family of 3, what more say a family of 4 or 5. And we are already considered the lucky ones, who receive little, if any, help from the government. There are so many other families out there who survive on less than a thousand bucks every month. Sad to say, their main source of help is from charitable organisations, not the government.
The government should be more generous in helping the lower income group. They, too, are Singaporeans. They contribute to the economy, albeit in the most insignificant way, some may think. Yet, they are the ones left suffering in times of turmoil...
I once thought of Singapore following a minimum wage system like how Canada does. But given how vulnerable we are as a small and open economy, this probably isn't a good solution. This only means that the government should do more to help...
And not have people selling organs just to make sure they have sufficient cash to live by.
Initially, I thought that having a market for the sale of organs is fine. Since both the suppliers and the buyers benefit from it, why not?
On second thought, the issue isn't that simple to start with.
I will continue next time, if I have the mood.