The broken windows of Singapore
The fallacy of broken windows was introduced by French economist Frédéric Bastiat in 1850. This is the economic idea of opportunity cost, which is something that is unseen. Bestiat illustrated with the parable of a cobler whose son broke a pane in the window at his shop. All the folks who came said well, it's just too bad,...
Just Don’T Say The ‘R’ Word
According to MOM’s monthly unemployment report for June, Singapore's overall unemployment remained at 2.1 per cent; resident unemployment, 2.9 per cent; and citizen unemployment, 3.1 per cent. Howbeit, it reflects a quaint time in history when we also have an interesting "worker demographic" situation related in part to the...
Naive and Stupid
People tend to believe Americans are somewhat defender of Democracy and Democratic system, by going around igniting wars. That's basically naive and sometimes stupid. Did America promote Democracy when it supported draconian dictatorship regimes in South Korea, Iraq, Taleban, South Vietnam, KMT Taiwan regimes in the past to...
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