What market economics can teach Singapore's politics
To serve voters well, we need greater competition in the political market.
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THE issue of political competition in Singapore reared its head again recently. Responding to a question at a forum last Thursday (Jan 13), Health Minister Ong Ye Kung dismissed the likelihood of a 2-party system in Singapore that resembles that of other countries. "People can say 'ownself check ownself', but I see it always as a virtue - if ownself cannot check ownself, you're in big trouble," he said. He added that the different parts of the system together, including the civil service and state organs, creates a "fairly effective functioning state that serves the people".
The question is: is that enough?
While consumer economics has key differences from electoral politics, Singapore's liberalisation of its electricity market offers a reasonable analogy.
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