Tuesday, August 10, 2010

Our Economy

You can become rich more easily on real estate and finance than through innovation in Singapore. What dismal things does this tell you about our economy and hence our future?

Things are good now but they are quite unsustainable. We have been very lucky, a fact which Goh Keng Swee appreciated more than any founding father. Just look up his final speech in 1984 when he retired.

We will always need more than a fair bit of luck than most countries. Many nations destroy the gifts from God with self-sabotage. Remember he clothed them before exiling them from Eden. Naturally it would appear that against other economies we have chosen wisely and worked harder. We would have drawn the poorer lesson which comes with a glass ceiling.

We need to emphasize more on innovation than we have bern doing, especially creating the right infrastructure to tear down invisible barriers and also bring down the cost of failure and production.

Man almost always waste God's gifts to him. So God uses those who are given less to teach those he had been more generous lessons about the nature of this world and himself.

The rich gets richer even as the poor become more impoverished is a temporary situation that in the time frame of man looks persistent. Now if we do not reverse this trend ourselves, he will do it for us, possibly violently.

I am encouraged that led by the Gateses and Warren Buffet, some of the world's richest have committed to giving at least half of their wealth away eventually. This is a promising beginning elsewhere, but what about Singapore and the rest of Asia?

- Posted using BlogPress from my iPhone

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