15 Feb '11, 1am

Failing to understand basic economics - (via @tocsg)

Failing to understand basic economics - (via @tocsg)

Thus far, everything makes sense, except when we apply it to the real world. Hawker centres and wet markets serve a community. It is a location-based service. If you remove or privatise the hawker centre at Bedok central, and claim that a “public option” still exists because there is a hawker centre in Yishun, Marine Parade, or even Chai Chee, you would be grossly mistaken. How would travelling to a Chai Chee hawker centre to buy a $3 packet of chao guo tiao be an option instead of paying $4.50 or $5 a packet at a privatized expensive food court just outside your home in Bedok? After adding the bus fare and time to and from Chai Chee, the $3 packet would be more expensive.

Full article: http://theonlinecitizen.com/2011/02/failing-to-understand...

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