27 Feb '12, 9pm

Singapore: A country where risks are socialized and profits are privatized - via @Shareaholic

Singapore: A country where risks are socialized and profits are privatized - via @Shareaholic

Singapore: A country where risks are socialized and profits are privatized February 28, 2012 by admin Filed under: Current Affairs and Politics Written by Ng E-Jay 28 February 2012 The bailout of financial institutions in the 2008 credit crisis, as well as the manner in which the current European financial crisis is being dealt with, has led many to critique that global capitalism has evolved into a state where risks are socialized and profits are privatized. This is true especially in Singapore. In Singapore, tax payers provide money to the government for the development of national infrastructure such as public transport facilities, telecommunication grids, power grids, as well as water and gas supply lines. Logically, when profit is earned from the provision of such services, the money should be used for the good of the people, for example, in the maintenance and improv...

Full article: http://www.sgpolitics.net/?p=7377

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