“The Market for Lemons” & ‘Foreign Degrees’
The Economist is running this week with ‘Six big economic ideas: a collection of briefs on the discipline’s (economics) seminal papers’. I will use some of these ideas to offer a different way to look at our current conundrums. George Akerlof, “The Market for Lemons”: Akerlof used the 2nd hand car market to illustrate...
How much tax for an Apple eating Europe?
The back tax bill is €13bn (or SGD$ 19.75bn) according to Margrethe Vestager, the European Commissioner for Competition. What does SGD$ 19.75bn means? For a proper perspective: 1. The total corporate tax in Singapore for FY 15/16 is SGD$ 13.8 bn, 2. Our total tax collection for the same period is SGD$ 44.8 bn, 3. Our defense...
Is President Tony Tan a minority?
It did not escape my cynicism that when the Constitutional Commission on Elected President submitted their report to PM Lee on 17th August, the very next day on the 18th August a CNA-IPS report had this headline: Most Singaporeans prefer someone of the same race as the nation’s Prime Minister or President. [CNA 18 Aug]. And...
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