I can’t think that we’ve attained the final section of this 29-week long exercise. In this particular final chapter, the author can be applied many-model thinking to the issue of income inequality. Applying the latest models have to review the problem of inequality is something every Singaporean should try to understand because this is important for our 4G leadership moving forward. Let’s go through the perspectives one by one. Using types of development, we can theorize that one cause of inequality is that technological growth favors informed employees over unskilled employees.
Making matters worse, increased items of unskilled labor retains unskilled wages stressed out. During Singapore’s efforts to attract foreign talent, it was the polytechnic graduates who did not experience meaningful raises in starting incomes for a decade. If you agree with this model, you should essentially lobby to diminish our dependency on international unskilled labor. Have employers bid for unskilled labor through a COE-like system.
Positive reviews in the internet economy creates a winner-takes-all system. Because we are so much more connected to one another, social influences matter much more these days. Folks who create some profit will generate more profits in the future even. We tend to select a merchant that other people choose and information moves a complete lot faster. This strengthens the hand of any incumbent in the business world. If you agree with this, then the government has to impose some kind of a negative feedback model to help make the KPI for government tenders slant towards diversity in choosing vendors. But this may increase the risks of government tasks significantly.
Pay for CEOs is determined by compensation committees who are also area of the same interpersonal strata of other CEOs. Increases in pay of a few CEOs will lead to higher pay for all other CEOs. In the event that you agree with this, the best solution is to introduce a member who represents the employees or the Unions in every compensation committee. With this note, I really do not realize why many people are so fixated on getting ultimately more women on corporate boards when priority should really go to get more non-degree holders to join these committees instead. Non-degree holders of both genders face more discrimination than ladies in Singapore society probably.
Thomas Piketty has yet to meet men like me who back-test models and apply leverage to earn more than most capitalists. If you trust this, you then, like the many SJWs and assorted assholes, you should battle for more investment fees, or pushing for more wealth taxation if necessary. For me, the largest cause of inequality is that graduates marry other graduates.
In truth, in law college, top students marry each other. If people marry across the interpersonal strata randomly, our GINI coefficient could have been 25% lower. So when an SJW comes at me screaming about dividends taxes, I will ask her why she loves ACS guys and won’t marry ITE guys?