15 Sep '11, 4am

Seelan Palay's Blog: There is nothing uniquely Singaporean about

Seelan Palay's Blog: There is nothing uniquely Singaporean about

There is nothing uniquely Singaporean about inequality By Assoc Professor Aneel Karnani of the University of Michigan 14 September 2011 As of June last year, some 4.2 per cent - or 83,400 - of employed Singaporeans and residents still earned less than $500 a month, the same as they did way back in 1999. And in a nation that prides itself on home ownership, 45,000 households are renting subsidised one and two-room flats now, up from around 40,500 in 2008. Meanwhile, the number of those who earn $10,000 a month or more has soared fourfold to 121,700 in a decade. And Singapore has the highest proportion of millionaires in the world, with one in six households on that gilded rich list. Reel off these statistics - gleaned from recent newspaper reports and government data sheets - to Associate Professor Aneel Karnani and he does not seem the least bit surprised. Income inequalit...

Full article: http://seelanpalay.blogspot.com/2011/09/there-is-nothing-...

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