fbpx

The PAP’s obsession with GDP growth (By Gerald Giam)

From Gerald Giam’s blog:

After a drop of just 4,200 foreigner numbers last year due to the downturn, the PAP’s “open-the-floodgates” immigration policy is back with a vengeance. So much for all their promises of “moderating” the inflow of foreigners.

Since we have this “fantastic” rebound in the economy, isn’t it the best time to ramp up our nation’s productivity drive, by forcing businesses to innovate and come up with better ways to achieve the same output without the over-reliance of cheap foreign labour? This “bitter medicine” seems to have been postponed. The government has reverted back to it’s habit of feeding our businesses steroids in the form of cheap labour, so they can generate more output and help boost economic growth.

Why does the PAP government have such an obsession for GDP growth? Don’t they realise that GDP growth does not necessarily indicate a healthy economy? Isn’t it more important to have equitable growth—where all citizens, especially the poor, benefit from growth?

Read the rest of the article on geraldgiam.sg.