Saturday, January 01, 2005
Income risk
While the world is fixated on the aftermath of the Indian Ocean tsunami, it is probably useful to remember that most of us bear risks beyond those of natural disasters.
This post by Brad DeLong is US-oriented and probably politically motivated. Nevertheless, some of the stories here would be relevant to Singaporeans, especially the notion that “rising incomes have been accompanied by rising risk and hence the chance of rapid downward mobility has increased”.
But enough with the pessimism. Singapore’s economy did grow by 8.1 percent in 2004. Let’s look forward to a good year in 2005.
Happy New Year to all readers.
This post by Brad DeLong is US-oriented and probably politically motivated. Nevertheless, some of the stories here would be relevant to Singaporeans, especially the notion that “rising incomes have been accompanied by rising risk and hence the chance of rapid downward mobility has increased”.
But enough with the pessimism. Singapore’s economy did grow by 8.1 percent in 2004. Let’s look forward to a good year in 2005.
Happy New Year to all readers.
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