A Danish citizen, Mr. Gregory Glen, responds to MM Lee’s remarks that Denmark, Finland and Switzerland can afford mediocrity in the remuneration of their ministers. This is an extract from the blog, This Lush Garden Within.
I read with interest Mentor Minister Lee Kuan Yew’s remark in Singapore’s Parliament that Denmark, Finland and Switzerland can afford mediocrity in the remuneration of their ministers.
I shall restrict my observations to Denmark and Finland.
These 2 Nordic countries reward their leaders, in both the private and public sectors, somewhat less handsomely than Singapore. Despite this, I would suggest that both countries’ governments are by no means mediocre, and neither have they evinced any indication of being able to afford it.
Finland has managed to weather the collapse of the Soviet Union in the early 90s, a market for 20% of its exports, in no small part due to its successful transformation from a resource-based to a knowledge-based economy. Its leading multinational, Nokia, is the market leader in the mobile telecommunications industry, with a global market share of 36% in the manufacture of mobile phones (Q42006) and revenues of €41.121 billion (2006). While most of the credit for this success story can be attributed to the Finnish private sector, Finland’s government had a significant role to play in creating the optimal framework for the flourishing of the technology sector.
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