YES: The actions undertaken by relevant stakeholders in Singapore improve societal conditions and make them favorable to increasing prosperity for all in a realistic manner.
The government has devised measures and policies to increase economic opportunities for Singaporeans who may be more exposed to the uncertainties presented by economic globalization, thereby ensuring that their material well-being will improve alongside other Singaporeans benefiting from economic globalization.
Singapore’s open economy facilitates a diverse range of new economic opportunities and businesses, enabling Singaporeans with diverse talents to find prosperity and success alongside citizens with more conventionally demanded skills.
The country’s effective educational system is augmented by comprehensive schemes to assist students who may come from economically disadvantaged backgrounds complete their education and achieve their full potential, thereby ensuring inter-generational social and economic mobility.
NO: Many societal conditions that are unfavorable to equitability remain or are accentuated due to a variety of complex societal interactions, making increasing prosperity for all an unrealistic goal both presently and for the foreseeable future.
Global market forces exert constraints and limitations on the Singaporean government’s best efforts to increase economic opportunities for all Singaporeans, exposing a significant proportion of Singaporeans to the uncertainties of economic globalization, stagnating their economic well-being and progress.
Many businesses and corporations to hire talent competitively from overseas and hence exclude Singaporeans caught unaware and unable to adapt to global competition from the economic opportunities and increased prosperity that our open economy brings.
A small proportion of dysfunctional families may be plagued by complex challenges which adversely affect the ability of their children to complete their education and achieve their full potential, thereby perpetuating inter-generational poverty and hardship.
The economy’s emphasis on efficiency and material success at the expense of social equitability may unfortunately exclude some groups and communities from fully participating in the country’s economic growth, leading to their continued economic deprivation.