16 Aug 2008
Introduction
Economic growth in Singapore has, in recent years, benefited the few who control economic production at the expense of the masses who are forced to work harder and harder just to ensure that their basic needs are met.
Statistics bear this out: Between 1998 and 2003, the average household monthly income of the poorest 20 percent of the population decreased by nearly 15 percent while the richest 20 percent increased by 11.7 percent.
What is needed is an economic system that works for the people, not vice versa. For this to happen, we need an economy in which the people can participate, one that the people, both employers and employees, truly own.
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