Meet Tony Tan, the "not-foolish-enough" Minister for Trade and Industry in 1981.
Yes, this is the same Tony Tan whose forecast that Singapore had too many university graduate went wrong (again!), and whose forecast that pumping billions of dollars into failed western banks is good investment went wrong (again!)
Oh, by the way, when he made that wrong forecast on education, he was the Minister for Education.
When he made that wrong forecast on investment, he was in charge of GIC.
And yes, you guessed it, when he made that wrong forecast on the impact of MRT on the construction industry, he was the Minister for Trade and Industry! Full story
