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Price of char kway teow: Cheap is not always good

Transiting to a higher-wage, higher-cost economy will be hard but can be good for Singapore, says Ravi Menon in a new book based on his lectures.

Singaporeans have become used to cheap hawker fare and get unduly upset when prices rise. PHOTO ILLUSTRATION: UNSPLASH
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It has been just over a year since Mr Ravi Menon caused ripples with his four thought-provoking lectures as the Institute of Policy Studies' Ninth S R Nathan Fellow for the Study of Singapore.

While some proposals drew headlines - such as introducing property gains and inheritance taxes and having a minimum wage or a proxy of it as a wage floor - what is more interesting is how his ideas cohere to create a vision of Singapore that differs from what we see today.

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