Population woes
-
cherryc:
The last highlighted section is an example of a completely slanted and 'frog in the well' view of a purported ideal human situation. If our evolutionary forefathers had that kind of attitude whilst coming out of the bowels of Africa tens of thousands of years ago, we would not be facing these issues today, because we would be EXTINCT as a species.
But another finding has also started to influence the current debate on growth: Poor people within a country are less happy than rich people.
In other words, above a low level of sufficiency, people's happiness levels are determined much less by their absolute income than by their income relative to some reference group. We constantly compare our lot with that of others, feeling either superior or inferior, whatever our income level; well-being depends more on how the fruits of growth are distributed than on their absolute amount.
Put another way, what matters for life satisfaction is the growth not of mean income but of median income - the income of the typical person.
Consider a population of 10 people (say, a factory) in which the managing director earns $150,000 a year and the other nine, all workers, earn $10,000 each. The mean average of their incomes is $24,000, but 90 per cent earn $10,000. With this kind of income distribution, it would be surprising if growth increased the typical person's sense of well-being.
That is not an idle example. In rich societies over the last three decades, mean incomes have been rising steadily, but typical incomes have been stagnating or even falling. In other words, a minority - a very small minority in countries like the United States and Britain - has captured most of the gains of growth. In such cases, it is not more growth that we want, but more equality.
More equality would not only produce the contentment that flows from more security and better health, but also the satisfaction that flows from having more leisure, more time with family and friends, more respect from one's fellows and more lifestyle choices.
Great inequality makes us hungrier for goods than we would otherwise be, by constantly reminding us that we have less than the next person. We live in a pushy society with turbo-charged fathers and \"tiger\" mothers, constantly goading themselves and their children to \"get ahead\".
The 19th-century philosopher John Stuart Mill had a more civilised view:
\"I confess I am not charmed with the ideal of life held out by those who think... that the trampling, crushing, elbowing and treading on each other's heels, which form the existing type of social life, are the most desirable lot of human kind... The best state for human nature is that in which, while no one is poor, no one desires to be richer, nor has any reason to fear being thrust back by the efforts of others to push themselves forward.\"
That lesson has been lost on most economists today, but not on the King of Bhutan - or on the many people who have come to recognise the limits of quantifiable wealth.
PROJECT SYNDICATE
The writer, a member of the British House of Lords, is professor emeritus of political economy at Warwick University.
\"while no one is poor, no one desires to be richer, \"
I almost spilled my coffee reading this. So seductive, but such a falsehood. If no one desires to be richer, EVERYONE would be poor. Only that no one would be POORER, because we would be all equally poor.
Perhaps that is the ideal state of humanity in some people's eyes.
Of course the poor must be helped. Some form of redistribution MUST be in place. Already the top earners in Singapore bear a much larger share of the tax burden. It is the RIGHT thing to do!
BUT, don't hamper the ability of the companies and businessmen to generate wealth, for themselves, for the country, and for others.
Sure, count the social costs, mitigate, help the Singaporeans, but don't strangle the goose. -
I am unhappy that my neighbour has one yak more than me. It is the government’s job to give me that yak. I blame the government for my unhappiness.
I am also unhappy that although my other neighbour has the same number of yaks as me, his very talented son takes only two hours a day to milk them but my family have to spend eight hours a day. I demand more work life balance. -
Don't worry. You shall soon have your wish.
http://www.reuters.com/article/2012/10/22/uk-singapore-malaysia-iskandar-idUSLNE89L00O20121022
Excerpt:
[quote]Cheap as China and closer: Malaysia zone woos Singapore firms
(Reuters) - When Tastyfood Industries decided to boost production to meet demand in Africa and the Middle East, the maker of Mr Cafe instant coffee and Vitamax cereal did not expand its Singapore factory or another one it owns in Xiamen, China.
Instead, it plans to close its Singapore plant next year and move up the road to Malaysia's Iskandar economic zone, where it will set up a factory three times the size on low-cost freehold land and hire willing workers as cheaply as it can in China.
\"New generation Singaporeans do not like production positions as they are more educated now,\" Tastyfood founder and managing director Joseph Lim, a Singaporean, told Reuters.
\"It's not easy to manage a manufacturing company in Singapore unless you are in high-tech, high value-added businesses like pharmaceuticals.\"
Singapore companies dominate the firms setting up factories in Iskandar, accounting for around 15 percent of the 32.7 billion ringgit committed as of June, according to the Iskandar Regional Development Authority.[/quote] -
pirate:
[/quote]You think we are immune from poaching for even high value things like pharma?Don't worry. You shall soon have your wish.
http://www.reuters.com/article/2012/10/22/uk-singapore-malaysia-iskandar-idUSLNE89L00O20121022
Excerpt:
[quote]Cheap as China and closer: Malaysia zone woos Singapore firms
(Reuters) - When Tastyfood Industries decided to boost production to meet demand in Africa and the Middle East, the maker of Mr Cafe instant coffee and Vitamax cereal did not expand its Singapore factory or another one it owns in Xiamen, China.
Instead, it plans to close its Singapore plant next year and move up the road to Malaysia's Iskandar economic zone, where it will set up a factory three times the size on low-cost freehold land and hire willing workers as cheaply as it can in China.
\"New generation Singaporeans do not like production positions as they are more educated now,\" Tastyfood founder and managing director Joseph Lim, a Singaporean, told Reuters.
\"It's not easy to manage a manufacturing company in Singapore unless you are in high-tech, high value-added businesses like pharmaceuticals.\"
Singapore companies dominate the firms setting up factories in Iskandar, accounting for around 15 percent of the 32.7 billion ringgit committed as of June, according to the Iskandar Regional Development Authority.
http://www.iskandarmalaysia.com.my/news/101029/biocon-makes-161m-malaysian-rd-investment
Yeah, people will say, they will go anyway, why bother keeping those industries, there are plenty of things attracting others to Singapore. -
so why don’t they expand the factory in xiamen China?
-
3Boys:
You think we are immune from poaching for even high value things like pharma?pirate:
Don't worry. You shall soon have your wish.
http://www.reuters.com/article/2012/10/22/uk-singapore-malaysia-iskandar-idUSLNE89L00O20121022
Excerpt:
[quote]Cheap as China and closer: Malaysia zone woos Singapore firms
(Reuters) - When Tastyfood Industries decided to boost production to meet demand in Africa and the Middle East, the maker of Mr Cafe instant coffee and Vitamax cereal did not expand its Singapore factory or another one it owns in Xiamen, China.
Instead, it plans to close its Singapore plant next year and move up the road to Malaysia's Iskandar economic zone, where it will set up a factory three times the size on low-cost freehold land and hire willing workers as cheaply as it can in China.
\"New generation Singaporeans do not like production positions as they are more educated now,\" Tastyfood founder and managing director Joseph Lim, a Singaporean, told Reuters.
\"It's not easy to manage a manufacturing company in Singapore unless you are in high-tech, high value-added businesses like pharmaceuticals.\"
Singapore companies dominate the firms setting up factories in Iskandar, accounting for around 15 percent of the 32.7 billion ringgit committed as of June, according to the Iskandar Regional Development Authority.
http://www.iskandarmalaysia.com.my/news/101029/biocon-makes-161m-malaysian-rd-investment
Yeah, people will say, they will go anyway, why bother keeping those industries, there are plenty of things attracting others to Singapore.[/quote]How come Malaysia manage to implement minimum wage and yet companies still find the labour cost competitive enough to setup businesses there?
China workers go for strikes against their employers demanding higher wages and yet companies still find them attractive? -
WeiHan:
ringgit is much weaker than sg... plus their land is cheaper.. in the long run, companies save..
How come Malaysia manage to implement minimum wage and yet companies still find the labour cost competitive enough to setup businesses there?
China workers go for strikes against their employers demanding higher wages and yet companies still find them attractive?
for the same reasons, their cheaper land and labour cost than sg attracts investors there... -
a gd friend of mine, got retrenched twice due to the same reason - company close down sg operations to move into china…
i shall not mention the industry, but just sad to say that this happen to her just in 2 yrs time… she nearly got into depression, luckily friends like us acc her throughout the down period…
not trying to blame the companies, or her luck… just that there r a thousands of reasons to move and also another thousands of reasons to stay…
if u chk with MOM, or i dunno where… there isnt many ppl who got retrenched for twice in their lifetime… much as i would sympathise with them, i would rather say this is the corporate world… nothing can make them stay, not even our garment… -
WeiHan:
Because the Malaysian minimum wage is $900 RM. They still undercut our costs.
How come Malaysia manage to implement minimum wage and yet companies still find the labour cost competitive enough to setup businesses there?
China workers go for strikes against their employers demanding higher wages and yet companies still find them attractive? -
limlim:
so why don't they expand the factory in xiamen China?
The answer is in the title of the article.
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login