Wednesday, May 30, 2018
High Pay: The solution became the problem
Spotted this in my Economist Daily Dispatch this morning. Nothing new here except that it helped me realized time has helped me made my mind clearer and sharper on the subject of our politicians' pay. I also believe time must have done the same for others as well.
Highly paid CEOs aren't admired. They are tolerated. Ditto our highly paid ministers. I watched how SR Nathan lost so much moral capital because of his high pay. He was much more admired before and after he left office. Tony Tan was forgettable and among practically all my friends, Halimah is disdained.
Paying them well was supposed to be a key plank in the solution to attract the right people into politics. The solution is now the problem, so what is the point? Their pa is so high that when you cut it is still very high.
This 130 times the pay of median workers will not be forever. Then what? The end result is hardly the point here. It is the journey from here to there that could sink us. Nobody is looking into this because those are highly invested in this structure are in charge and any answer to this problem must revolve around their high pay. In other words it is only a matter of time the PAP lose power because they will not negotiate on pay.
Posted by PengYou at 6:02 AM