Coffeeshop Talk...
Coffeshop talk [or, as Ms Chua Mui Hoong puts it ("Mind the parallel universe of local politics", ST, 20/4/2007), talk from the universe paralleling the universe of "official" local politics]
© 《早报现在》，21/4/2007
For the benefit of those who cannot read Mandarin...
First/top panel
A: GST has gone up!
B: COE has also gone up!
C: Salaries have also gone up!
Second/bottom panel
C: Just too bad it's not my salary...
Kudos to the cartoonist who drew this!
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1 comment:
Economic topic, aye. Under the wage-price spiral argument, workers' wages cannot be raised too high or inflation might occur. And also, there's also the Keynesian argument of money illusion that workers are under, that makes raising wages only in nominal terms and not real terms. I'm aware of CPF cuts in recession periods, but there was talk of raising the employer CPF rate a few mths ago? I haven't been following the news tho', so i'm not sure if any concrete actions have been taken.
Then on the other hand you have the social issue of the decision makers welding power over macroeconomic decisions.
I apologise if i sound incoherent.
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