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Article summary:
1. The old adage of growing the economic pie before worrying about how it is distributed is no longer adequate as a guide for policymaking in Singapore.
2. What matters more for economic growth and competitiveness is not how generous a country’s social protection system is, but how it is designed.
3. Governments have more choices than they think when it comes to improving social equity without reducing growth.
Article analysis:
The article “Low (2014), The four myths of inequality in Singapore” provides an analysis of the current state of inequality in Singapore and offers potential solutions to address this issue. The article does a good job of presenting the facts and figures related to income inequality in Singapore, as well as providing an overview of the various myths that are often used to explain this phenomenon. However, there are some areas where the article could be improved upon.
First, while the article does provide some evidence for its claims, such as citing Jones and Klenow's research on per capita GDP, it fails to provide any further evidence or data to back up its assertions. This lack of evidence makes it difficult to assess the trustworthiness and reliability of the article's claims. Additionally, while the article does present some potential solutions for addressing inequality in Singapore, it fails to explore any potential counterarguments or risks associated with these solutions. This lack of exploration leaves readers with an incomplete picture of what could potentially go wrong if these solutions were implemented.
Finally, while the article does present both sides of the argument fairly evenly, there is a noticeable bias towards promoting certain policies over others that could potentially be used to address inequality in Singapore. This bias may lead readers to believe that certain policies are better than others without considering all possible options or their potential risks and drawbacks.
In conclusion, while “Low (2014), The four myths of inequality in Singapore” provides an interesting analysis on income inequality in Singapore and presents some potential solutions for addressing this issue, there are still areas where the article could be improved upon by providing more evidence for its claims and exploring counterarguments or risks associated with its proposed solutions.