The Myth of Asia’s Miracle
In 1994, Nobel laureate for Economics, Paul Krugman, published a provocative article, “The Myth of Asia’s Miracle”. He noted that the Singapore economy was no different from the Soviet economy of the 50s and 60s. The Soviet economy expanded very fast for a long period but then growth eventually slowed to a trickle as it...
What is happening with the circuit breaker?
The circuit breaker was imposed in early April. Over two months have passed. Why are we still recording around 500 new cases daily, most of which are in the foreign worker dormitories? Those who were infected before the start of the circuit breaker should have passed their quarantine period and stopped infecting other people. Does...
Are we supposed to owe a debt of gratitude to the government for dipping into the reserves?
For years and years, we have been told that Singapore’s reserves are only meant to be used for a rainy day. But now that we are in a storm and the reserves have been unlocked, there is an endless stream of reminders about how fortunate we are to have a government that is able to tap on reserves. Is it a concerted effort to...
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