How wage shock therapy and competition have benefitted bus drivers
In 2012, Prof Lim Chong Yah called for a drastic hike in wages for low income workers because they had been “grossly underpaid” for years. (Wages = monthly wages) Prof Lim’s wage shock therapy (WST): 1 – Raise the wages of those earning less than $1500 by 50% over 3 years. 2 – Freeze the wages of those earning over...
Return my CPF!
If the government abolish the minimum sum and return your CPF. then what? More to the point what are you going to do to receive a stream of income when you are retired? I am not sure those who shouted RETURN MY CPF the loudest know or bother to find out. The more astute would answer “you need to buy an annuity”. Correct....
The case for Minimum Wage
The late LKY had said that the reason why we don’t have minimum wage is that Economics 101 showed that if the market wont bear it, it will mean unemployment, his adage was that full employment is paramount. Not an unusual objective, e.g. one of the objectives of US Federal Reserve is to sustain a high level of employment. A...
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