Earlier this month, I gave a talk on how the growing income inequality is detrimental to Singapore’s future. Below are the charts that I had presented.
I explained how the income inequality in Singapore really started worsening from the mid-1990s onwards and how the causes of it was due to the policy changes from the mid-1980s and the PAP’s change in its principles from 1982.
Things really started getting worse after Lee Kuan Yew and Goh Keng Swee got Rothschild in to advise on the GIC in 1981. Thereafter, the PAP started creating policies to siphon off Singaporeans’ CPF.
You can also watch the video here.