Invest
The Model Thinker (Final Episode) – Income Inequality
By Growing your tree of prosperity  •  July 29, 2019

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

...
Read the full article
By Growing your tree of prosperity
I have recently completed my Juris Doctor and I am waiting to be called by the Singapore Bar. For the past 15 years I was an IT manager and I have worked in multinationals, financial exchanges, trade unions and even a government agency. I started my career as an AS/400 administrator and moved on to manage IT projects and operations
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance