Reduce cost of living rather than income gap

The truth is no government policy or intervention in the world has been able to effectively eradicate the income gap in a capitalistic system (Focus on right measures of income inequality; Aug 8).

Even communist nations' "iron rice bowl" system has failed.

A capitalistic system cannot continue forever, especially with mankind's runaway greed for wealth. The wasteful production and use of materials due to mankind's greed and demand for comfort will not last forever.

Instead of fixing the income gap, Singapore should find solutions to reduce the cost of living - in my estimate, by about 25 per cent or so.

This is a more realistic and workable solution if we know what the controllable and non-controllable costs in our situation are, as we have hardly any material resources and depend on imports for most of our needs.

We must use all the means available to address the income gap.

There is no one solution or panacea that can address this issue effectively.

Tan Kok Tim

A version of this article appeared in the print edition of The Straits Times on August 13, 2018, with the headline 'Reduce cost of living rather than income gap'. Print Edition | Subscribe