Daily Lessons from Life 10 February 2012 - GE results due to economic issues, says Shanmugam

"GE results due to economic issues, says Shanmugam - TODAY 10 February 2012

Washington DC: The outcome of last year's Singapore General Election (GE) has been likened by some political commentators as an Arab Spring, noted Foreign Affairs and Law Minister K Shanmugam.

However, he felt the results were due to economic issues, as well as specific local issues like housing and transport. Speaking at the Singapore Conference on the topic of "New Directions: Singapore Politics and Foreign Policy" on Wednesday, Mr Shanmugam said the GE results should be viewed in perspective.

"We had the ruling party stay in power with 60 per cent of the vote, 93 per cent of the seats," he added.

The Singapore Government will examine the election results "carefully", said Mr Shanmugam. But he assured the audience - comprising diplomats and foreign policy thinkers from Singapore and the US - that Singapore's fundamental economic and strategy policies "have always been rational and there is no risk of that changing anytime soon.""

Lessons for me are:

In a democracy, the government is elected by the voters to provide a safe environment with laws and orders, freedom (with responsible behaviours), education opportunities, adequate and need not be a 5-star health care, and jobs to live a decent (by UN standard) life.

High unemployment or under-employment of the 40+s able and willing voters is a problem.

High health care cost which falls on the sicked's family members 1st before the government will help is another since the family members have their own immediately families to take care of.

Low wages for jobs that are aplenty in the service sector due to the uncontrolled import of cheap foreign workers, who sometimes are exploited by unscrupulous Singaporean employers, did not really help the low waged Singaporean workers to live a 1st world lifestyle.

A supposedly world class educational system that CANNOT produce enough talents for the needs of our economic development and a batch of top class people willing and able to serve the nation without conceding too much on the material rewards is a glaring failure.

I can go on and on.

BUT yes. Mr Shanmugam is partly right as Singapore is STILL at the 3rd world nation stage. All the people care about are: do I have a job that I can live a comfortable life for my family and myself. We have NOT gotten out of the gate of 3rd world nation yet!!

As to his remarks that 'rational approach' is GOOD, we need to bear in mind that people are emotional being as well.

He who ignores the balance between rational and emotional consideration will FAIL!! Just like Adam Smith's theory of the invisible hands, PEOPLE are NOT rational when they make economic decision!! Hence the advent of 'behavioural economics'! Is politics any different?