Global-is-Asian #13

Page 31

In-depth

Image: Paul Lachine

Rethinking Singapore's social compact by Yeoh Lam Keong, Donald Low, and Manu Bhaskaran

After both a cataclysmic economic crisis and a watershed general election, Singapore stands at a cusp of forging a new social compact.

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ingapore’s current social compact, founded on the principles of self-reliance, high growth, full employment and a social security system which emphasises individual savings and home ownership, has served Singapore well and is widely admired abroad. From independence until the end of the 1990s, this compact delivered · Jan–Mar 2012 · 31


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