Sudhir Thomas Vadaketh is a writer. Together with Donald Low, associate dean for executive education and research at the Lee Kuan Yew School of Public Policy, Sudhir is the co-author of an upcoming book, Hard Choices: Challenging the Singapore Consensus, to be published by NUS Press in April 2014.
Singapore needs to address its drastic wealth inequality in order to, among other things, reduce social tensions, improve social mobility and maintain its commitment to building a fair and just society.
While there has been much discussion about income inequality in Singapore’s recent past, wealth inequality has garnered little attention. This is partly because of a paucity of official data. But a report on global wealth last year by Credit Suisse, an investment bank, suggests that Singapore has one of the biggest wealth disparities in the world.
In any capitalistic society, some inequality is desirable as the just rewards for differing effort, which incentivises people to workRead More »from COMMENT: Why it’s time to take a good, hard look at wealth inequality in Singapore