Economics

When Waves Combine

What happens when the next wave of Covid meets the Great Resignation? Singapore is going to find out—and it will be ugly. The Straits Times presents an optimistic picture of the labour market. Among other things, unemployment fell from 3 percent to 2.6 percent, retrenchments dropped from 26110 to 7820, and the Ministry of Manpower expects […]

A Parallel Economy for the Pandemic

Among the many Covid restrictions Singapore has passed to date, the unofficial vaccine mandate is the most insidious. In a single stroke, tens of thousands of workers are forced to choose between the jab and the job—as well as students who are about to enter the workforce. The Ministry of Manpower claims that termination for […]

Digital Currencies Don’t Need Government Backing

Michael Petraeus, better known as Critical Spectator, wrote an article for Vulcan Post arguing that digital currencies can only work with government backing. By ‘digital currencies’ he singles out Bitcoin for criticism. This in itself is the fatal flaw underlying his thesis. To understand where Petraeus is coming from, he is one of Singapore’s highest […]

An Amateur’s Notes on Cryptocurrency

Like most people I know I heard of Bitcoin only when it was too late to profit spectacularly from it. Even so, cryptocurrency rarely popped up in my local newspapers, except in highly technical articles buried in the business or finance pages, or whenever someone made a killing off crypto — or when crypto is […]

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