Something to ponder about

BORCHGRAVE: So how do you see the future of capitalism?

MM Lee: As chairman of the equivalent of our Sovereign Wealth Fund, we examine and decide where to invest our money, in equities or bonds or what have you. Our fund managers are paid five times what I get. Why? Because they have had good track records in growing our fund and we know what they could command in the private sector. They are dealing with billions of dollars every day and must be compensated accordingly.

Unbridled capitalism, winner takes all like in America, does not work unless you can cope with an underclass. So here we also stay with the losers, make sure they have enough to live on, with healthcare, equal education opportunities for their children whose parents can no longer afford it. It’s very important they not feel abandoned. So we have workfare and ingenuous ways to keep them working as we don’t want layabouts doing nothing. We also subsidize homes which they would not be able to buy. A society can only survive if there is a sense of equity and fair play.

(via Middle Eastern Times, first seen on Singapore Election Watch)

I never quite understood the role of the government. I mean, we aren’t trying to overthrow the government (yet), nor are we holding protests like some of our neighbouring countries are.

But then again, does the government owe us a living?

I guess there’s no smoke without fire.

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