What should ‘inclusive growth’ mean in the Singapore context? What specific measures should the government, and the private sector adopt to ensure a better life for all in a growing economy?<\/p>\n
I BELIEVE that there is a price to pay for wanting to forge a “caring” society. Businesses are about optimising productivity, so I believe that implementing measures to include workers who are not as “commercially productive” is bound to translate into lower growth.<\/p>\n
In terms of specific measures to ensure a better life for all, the government may want to consider implementing a minimum wage policy, which will raise the income levels of low wage workers.<\/p>\n
Other countries like the US have such legislation in place and I think it will be groundbreaking for Singapore to introduce a minimum wage policy, instead of leaving employee salaries to free market forces.<\/p>\n
Source: The Business Times, 24 October 2011<\/p>\n","protected":false},"excerpt":{"rendered":"
What should ‘inclusive growth’ mean in the Singapore context? What specific measures should the government, and the private sector adopt to ensure a better life for all in a growing economy? I BELIEVE that there is a price to pay for wanting to forge a “caring” society. Businesses are about optimising productivity, so I believe […]<\/p>\n","protected":false},"author":7,"featured_media":112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[24,29],"yoast_head":"\n