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11/20/2012
Pay and you will get the answers
MAS is keen to know why some goods sold here are more expensive than in other countries or why the prices were different. A tender has been called to conduct a study on the causes. I think they roughly know that some of the factors could be labour, rent, tax, regulations, cost of living, markups, advertising, preference, the weather, hype, consumer irrationality, cost of govt, profiteering, no choice, monopoly, affordability etc etc. The affordability factor is unique to Sin as it means that the seller can sell at any price as long as the consumer has the money and willing to pay, or has no choice but to pay.
Paying for this survey will come up with a clear picture of the whats and the whys of expensive things. Hopefully it will be used to bring down prices so that things that are expensive for rubbish or wrong reasons can be made cheaper. But this is conditional on the caveat that the affordable logic is not used.
I think this will also be useful to me to know how to price my red bean soup too. Then I will know why my red bean soup is more expensive here than in Batam and JB. And for sure I will not price my red bean soup using the affordable logic as I cannot control the supply and demand.
And definitely the survey will help Boon Wan to price his HDB flats. At least he would know why the public flats here are more expensive than in other countries, if he still didn’t get it, and maybe he could then price the flats correctly, and be more affordable. Oops, don’t use the term affordable or the affordability logic can?
I strongly recommend that the Housing Minister also call for a tender to survey why housing prices are so high here. Tenders are useful instruments when conducted properly and the results would be objective and beneficial to who ever commission it.
The Cynical me will say the more surveys and whatever that is done to do the unneccessary, if regulation and conscience are in place, will only drive cost higher.
ReplyDeleteDo not be surprise that the survey will justify and conclude that the rises in prices are fair and affordable.
Which other country makes regular increases like everything has a shedule to have their cost increase?
The Market cannot decide and determine? There is always up and fown at market place. In Sin, it is one way traffic North.
patriot
Did MAS conduct a tender to find out why Ministers' salaries in Singapore are so high?
ReplyDeleteNo.
Why not?
No balls?
How to solve the problem of high prices in Singapore?
Simple.
Boycott. Don't buy.
How to further reduce Ministers' high salaries?
Vote Opposition.
How to reduce high HDB prices?
Vote Opposition.
As anon 914 has stated: Don't buy.
ReplyDeleteI live in Aust -- where prices can be outrageous. Fortunately, I have a combative streak in me: I walk into the shop with my google browser open displaying the best online price.
This is how I negotiate for a lower price, and most of the time I get it. Not quite as low as online, but good enough. Other than that, I do most shopping online where my AUD kicks ass.
Capitalism must be played hard by buyer and seller. Then it becomes a great game. ALL PRICES are "created" by bidding and offering , and if prices were LEFT ALONE to rise and fall FREELY according to the independent actions of individuals bidding and offering then ALL MARKETS WILL CLEAR, aka "Saye's Law".
How I miss the social interaction of bargaining which was so part of early Singapore culture...when we used to have pasar malams, High Street, Arab Street, and street hawkers...all little pockets of the free market in day-to-day action.
HDB? Don't mess with it any more. It is already a mess. Allow the prices to rise and fall according to the whims of individual market participants.
"Allow the prices (HDB) to rise and fall according to the whims of individual market participants."
ReplyDeleteYou kidding right?
The giant pink elephant in the room is the S'pore govt. that owns ALL the HDB flats in Singapore.
The value of the Singapore Reserve is linked to HDB prices.
You think prices can go down so easily (like maybe Ceciclia Sue)?
PS: Love your picture. Keep posting new ones.
SMU survey showed that tourist satisfaction has dropped because of higher prices of services and goods.MAS was directed to find out why the prices here are higher than elsewhere.
ReplyDeleteI think the prices here are higher because of higher markup. So many millionaires in this little red dot.
Even the humble ang dow tieng(red bean soup) is more expensive here than in Bukit Indus!
@anon 1246:
ReplyDeleteI bought my first HDB when the price dipped. People were screaming "end of the world". Many university grads out of work or working for 100's of dollars per month. Doom and gloom everywhere.
....but housing....cheep cheep.
As long as there is some sort of market...doesn't have to be totally "free", ut at least there is some freedom, you are going to get prices expressed as individuals acting (demand) on an immediate supply.
As for the pic, I acknowledge the compliment. I'm in a place where sex is constant fixture...like air.;-)
This PAP government still acting blur and wayang again.
ReplyDeleteIf the world's most expensive government do not know the answer, who know ? That show the degree of legalised corruption in Singapore, which is pretend not to see the issues to keep one's ricebowl , promotion, benefits and perk tied to the establish.
Would offer of sex help secure the tender?
ReplyDeleteThe Modus Operandi is obvious and stale.
ReplyDeleteConsultation, survey, campaign and then comes out with results that a high percentage of the people find every exercise positive. If not, the people find that they(the people) are not pro-active amongst themselves.
Or,
the people have to organize themselves into vigilante and groups of sycophants will be put on display to show case effort and support.
Too stale to be convincing anymore, the people will not be conned from now on.
patriot
Yes, I agree the PAP is again acting blur.
ReplyDeleteWith all the best brains that Singapore 'cannot produce' but imported overseas, how can they not know the real reasons.
I kinda like the wayanging. All nothing but cuckoo bird talking cock.
How much money spent on wayang?
ReplyDeleteHow much money spent on poor?
Daft Sinkies are willing to spend so prices should goes up as daft sinkies will always think that cheap goods are lousy goods.
ReplyDeleteUnless sinkies can change their mindset and not always think that getting a Grade A and pay more is always better than paying lesser getting a Grade D ,they deserve to spent and waste more for those good and services.
I oso have my own survey and found that you still can get many same item or services for the same price that you paid 30 years ago.
I still patronise and pay S$2 for my original wan ton mee.Cheaper than those in neighbouring Malaysia and those Bakso mee sold in the street in Indonesia.
Keong Siak aunties providing massage and extra services at S$35 30 years ago are still charging the S$35 today at another location.
Your red bean soup should not cost more than 60 cents if you have a conscience.
Those who think paying more can get better quality should continue paying for more.
Many countries have minimum wages around S$10 but their ikea items are much cheaper than Singapore. THe problem is not labour costs, it is our high rental and gov related costs such as COE/ERP/GST ETC
ReplyDeleteThe leaders have flew everywhere around the globe and did not know that many countries are cheaper in their goods and services?
ReplyDeleteAre they given treats everywhere free of charge?