tag:blogger.com,1999:blog-17473688.post8075906655594518141..comments2024-03-19T11:32:07.178+08:00Comments on My Singapore News: Wrongful allocation of resourcesChua Chin Leng aka redbeanhttp://www.blogger.com/profile/11743716923635835397noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-17473688.post-18177586940666185072007-10-20T11:32:00.000+08:002007-10-20T11:32:00.000+08:00wow, we agree!wow, we agree!Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-13028559938776659302007-10-19T14:27:00.000+08:002007-10-19T14:27:00.000+08:00Right, and the market works anyway.If there are sa...Right, and the market works anyway.<BR/><BR/>If there are say only 50 engineers and 3000 arts graduates, you can bet the wages for the engineers will skyrocket (unless "cheaper" engineers from overseas are chosen—but even they are commanding high salaries now), and the majority of arts grads will end up flipping burgers at McDonald's<BR/><BR/>As long as govt is involved, quotas will be arbitrary.Ⓜatilah $ingapura⚠️https://www.blogger.com/profile/02652498247201967379noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-49582692871237100252007-10-19T08:52:00.000+08:002007-10-19T08:52:00.000+08:00when you have artificial quotas you cannot have an...when you have artificial quotas you cannot have an efficient market system.Chua Chin Leng aka redbeanhttps://www.blogger.com/profile/11743716923635835397noreply@blogger.comtag:blogger.com,1999:blog-17473688.post-19072314112458855192007-10-19T02:46:00.000+08:002007-10-19T02:46:00.000+08:00As long as you have CENTRALLY PLANNED public educ...As long as you have <B>CENTRALLY PLANNED</B> public education system, there will be disastrous misallocation of resources.<BR/><BR/>The financial rewards from jobs are a market phenomenon, and thus are demand driven, ultimately by the demands of the (Sovereign) consumer.<BR/><BR/>Who can really predict the future? So how can some dickhead civil servant determine that "we need 1000 engineers" or Ⓜatilah $ingapura⚠️https://www.blogger.com/profile/02652498247201967379noreply@blogger.com