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28 May 2019
Movement for change
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Will populism affect the economy badly?

Someone asked me - Mr. Tan, I see the trend towards populism in many countries. I am afraid that this trend will be bad for the economy and for the social cohesion.

I gave him this reply.

Over the past three decades, the world has grown to be more unequal.  Most of the wealth has gone to the super rich - the top 1% of the population. 90% of the people have to struggle with high cost of living, insecurity of jobs and high stress. 

They want to change the economic system, so that they can have better lives. They do not want to continue to suffer under a bleak future.

They are willing to make a change. Some politicians come out to tell them what charges are needed. The people yearn for the change, so they support these new policies. 
The media brand them as "populists".

This problem also exist in Singapore. Most of the people here also suffer from high cost of living and uncertainty of jobs. Worse, they now see that the HDB flat, which they paid a lot of money, will eventually have no value. The CPF does not provide an adequate income during retirement. Health care cost continues to be escalating out of control.

The world "populism" is created by the media to frighten the ordinary people about changing the current system.  The media and the journalists are controlled by the super rich, so they have a vested interest to avoid change.

He said - Oh, it gives a negative image of change, so that people will continue with the current economic system.

Tan Kin Lian

Vote - do you think we have to change the current system so that it can give a better life for the ordinary people?





 


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