An honorable member of the Coffee Shop Has Just Posted the Following:
PM LEE DOESN'T UNDERSTAND THAT WAGES MUST KEEP UP WITH INFLATION
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12 Oct 2014 - 7:00am
I am seriously worried of how PAP, especially PM Lee, talk about wages. They have given very misleading concept and signals to employers, unions and workers about "wage increase only productivity increase".
The truth is, in economics theory, it is all about REAL WAGE increases when productivity increases. It means that wages should AT LEAST increase in tantrum with inflation generally so that workers will be able to cope with inflationary pressures. Increment according to inflation basically means ZERO REAL wage increase but at the very least, it is NOT REAL WAGE DECREASE if wages stay the same while inflation keep going up.
For PAP Ministers who are paid millions every year, they should know such simple basic concept for wages but apparently, they are misleading everyone with their rhetoric. They are paid so much to make sure Singaporeans' livelihood and standards of living will improve over time, not to reduce our standards living!
How could they spew such nonsensical things in public discourse? Why are Singaporeans still taking their nonsense and continue to vote for them? VTO lah!
Goh Meng Seng
*Article first appeared on https://www.facebook.com/gohmengseng...04157212023711
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12-10-2014, 05:00 PM
GMS: Ass Loon DOESN'T UNDERSTAND THAT WAGES MUST KEEP UP WITH INFLATION
