Workers say no to wage hike
While the workers of the world rose in protest over their low wages, the workers here were celebrating their good fortune. All of them looked so happy, and so rich. And they expectedly rejected the shock therapy of Lim Chong Yah that offered them a 50% pay rise in 3 years. Unbelieveable!
I think the workers are reading Lim Chong Yah’s therapy selectively. For one, Lim Chong Yah is no ordinary academic and he is definitely Not mad. How could an eminent economics professor make a recommendation that the workers and the super talents all objected in unison as if it is flawed? How could they counter with the argument that the rising cost of production due to higher wages would make the companies not competitive? It cannot be. The money paid to the workers must come from somewhere to balance it. And this is the part that no one wants to talk about. Where is the money coming from?
What Lim Chong Yah did not say directly is that the fat cows are too fat and can afford not to stuff in more food for the next three years. With their current intake, they could continue to be fat cows. The real objection to Lim Chong Yah’s proposal is likely to be this, that the fat cows want to eat more and more and their current intake is not enough. That is why if raising the worker’s wages did not come with a salary freeze at the top it will spell disaster. And that is right. But Lim Chong Yah did not ask for this disaster. He is asking the fat cows to take a break and stop taking more for a while.
When rejecting Lim Chong Yah, one must look at his full recommendations, not just raising worker’s wages alone. But workers are workers, just lead them and they will follow happily.