Paradox of Singapore’s Economic Growth: Relatively Higher Average Incomes But Relatively Lower Human Development
By Abdul Gafoor, Social Correspondent The recent publication of UNDP’s Human Development Index (HDI) revealed another paradox of Singapore’s economic growth strategy. The HDI ranks countries around the world according to “human development” and this is a common and standard index used by economists all around the world. The...
Paradox of Singapore Economic Growth: Economy has grown fast, labour income share remains dismally low
By Abdul Gafoor, Social Correspondent A closer look at the share of Singapore’s economic pie that goes to workers as incomes throws up another paradox. Singapore’s economy itself has grown more than 30 times. Despite the fact the country has been working hard with full devotion to continually continue high economic growth...
Irish Luck had ran out – But are we on the same route to disaster?
By Damon Yeo, Business Correspondent Earlier this year, a joke conjured up by some twisted economists became popular online. It goes something like, “What is the difference between Iceland and Ireland? An alphabet and about six months.” This joke surfaced just months after the entire Icelandic economy and banking system...
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