4 ms·

Totally. The point isn’t to make someplace a bad place to be rich, nor to prevent richness. The point is to prevent total capture of the economy by the wealthy.

Totally. The point isn’t to make someplace a bad place to be rich, nor to prevent richness. The point is to prevent total capture of the economy by the wealthy. The fact that Singapore’s economy has grown so obscenely without the apparently corequisite skyrocketing inequality is pretty remarkable (even if imperfect etc).

fragmede 3y ago
There are poor people in Singapore. They're better hidden, and a different color, but they're there. There's also no minimum wage, for better or worse.
- ethanbond 3y ago
  I didn't claim otherwise.
  - fragmede 3y ago
    I must have misinterpreted > without the apparently corequisite skyrocketing inequality then, apologies.
cycomanic 3y ago
From my visits to Singapore I'd say it does have skyrocketing inequality. The inequality is just "exported", i.e. all the poor are not Singaporeans, but largely from Malaysia. Essentially the extremely strict citizenship laws in Singapore make the citizenship itself extremely valuable hence less poverty.
- jhanschoo 3y ago
  You really haven't seen much of S'pore if you identify M'sians as the disadvantaged in S'porean society. Global labor arbitrage is a huge component in S'pore's economy, so in addition to importing talent for it's more productive industries, S'pore is an attractive destination for less developed SEA and South Asia regions who arrive on a temporary pass for manual labor or domestic labor for a comparatively low wage that translates to comparatively more back home. A major issue regarding this is these communities' isolation and dependence on their employer during their time in S'pore, with a lack of options or recourse should issues arise. M'sian nationals, especially Malaysian Chinese, to my perception, typically work the same industries as the citizenry, and seem to be favored for permanent residency and citizenship. The citizenship process is a black box, but it is generally observed that Malaysian Chinese are the most likely and fastest to get citizenship, and it is speculated that it is for reasons of cultural affinity and racial quota.

fragmede 3y ago

There are poor people in Singapore. They're better hidden, and a different color, but they're there. There's also no minimum wage, for better or worse.

ethanbond 3y ago
I didn't claim otherwise.
- fragmede 3y ago
  I must have misinterpreted > without the apparently corequisite skyrocketing inequality then, apologies.

cycomanic 3y ago

From my visits to Singapore I'd say it does have skyrocketing inequality. The inequality is just "exported", i.e. all the poor are not Singaporeans, but largely from Malaysia. Essentially the extremely strict citizenship laws in Singapore make the citizenship itself extremely valuable hence less poverty.

jhanschoo 3y ago
You really haven't seen much of S'pore if you identify M'sians as the disadvantaged in S'porean society. Global labor arbitrage is a huge component in S'pore's economy, so in addition to importing talent for it's more productive industries, S'pore is an attractive destination for less developed SEA and South Asia regions who arrive on a temporary pass for manual labor or domestic labor for a comparatively low wage that translates to comparatively more back home. A major issue regarding this is these communities' isolation and dependence on their employer during their time in S'pore, with a lack of options or recourse should issues arise. M'sian nationals, especially Malaysian Chinese, to my perception, typically work the same industries as the citizenry, and seem to be favored for permanent residency and citizenship. The citizenship process is a black box, but it is generally observed that Malaysian Chinese are the most likely and fastest to get citizenship, and it is speculated that it is for reasons of cultural affinity and racial quota.