Inequality is not just unfair, it's also bad economics

Inequality slows growth and results in inefficient allocation of opportunities

SINGAPORE - In the ongoing discussion on inequality, I have often heard people refer to the "bleeding heart liberals".

This label is a convenient, and rather dismissive, short-hand to refer to the academics and others challenging the assumptions behind Singapore's social policy. They want policymakers and citizens to look beyond ways to help the poor, to understand how institutions, structures and mindsets behind policies have sometimes disadvantaged the poor and kept them marginalised.

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