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Showing posts with the label Sudhir Vadaketh

Hard Choices: Challenging the Singapore Consensus

A thought-provoking set of essays. The main writer Donald Low is persuasive about how widening income inequality in Singapore is destroying the social compact between the government and the people. He argues for income redistribution and the strengthening of social nets, and against the shibboleths that stand in the way, such as elite belief in trickle-down economics, moral hazard, and decreased global competitiveness. He wants policy-makers to look hard at the empirical evidence, instead of being confirmed in their prejudices by past experience raised to the status of ideology. Low is particularly good at using insights from cognitive research to explain why the governing elite is so slow to adapt to a fast-changing environment. His reliance on such findings is telling. He mainly believes that governmental failure is primarily a failure in thinking. Correct the thinker, and he will correct his policies and processes. At one point, Low assures the reader that the governing elite that...