I can't believe that we've arrived at the final chapter of this 29-week long exercise.
In this final chapter, the author applies many-model thinking to the problem of income inequality. Applying different models to review the issue of inequality is something every Singaporean should try to understand because this is a priority for our 4G leadership moving forward.
Let's go through the perspectives one by one.
a) Technological changes favor educated workers
Using models of growth, we can theorize that one cause of inequality is that technological growth favors educated workers over unskilled workers. Making matters worse, increased supplies of unskilled labor keeps unskilled wages depressed. During Singapore's attempts to attract foreign talent, it was the polytechnic graduates who did not experience meaningful increases in starting salaries for a decade.
If you agree with this model, you should basically lobby to decrease our dependency on foreign unskilled labor. Have employers bid for unskilled labor through
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