Market Pricing and market economy

I have posted many times, and most of you are aware of my views and orientation with respect to market pricing and market economy. I always believe in moderation, market pricing with a little govt interference without allowing extremism to push things too far. The pricing of HDB flats, medical fees, and all kinds of services are gradually moving towards full market pricing in a market economy and it is something I don't agree and don't feel comfortable with. My position is that the govt must always work for the betterment of the people and a market economy running along market pricing is only as good as long as it is good for the people. If it is good just to make more profit at the people's expense or causing more hardship to the people, then it is not good no matter how fair it is claimed to be. The govt must always be for the people. The profit made must also be for the people. The money made from the people must not be excessive. There is no point in hoarding a huge reserves when the reserves are not managed for the interest of the people. As the govt edges further and further towards a full market economy, many policies will eventually be market driven. Good or bad is not an issue. Here we have a govt that makes it very clear of its philosophy and policies. There will be people who agree and support such philosophy and policies. There will be people who don't agree. It is good that the govt takes on such a position, clear and transparent. It allows the people to understand how such policies will work out and how they will be affected in the process. The people can then make an informed choice of whether this is what they want. And it will be good if there are alternative parties presenting alternative models for the people to choose from. For the dogmatic and party loyalists, they may want to view the alternatives as a for me or against me ala the idiot called George Bush. This is a very narrow minded way of how a country and its people should evolve. In a democracy, it is the people's choice and not a matter of you are my friend or my enemy. I am not sure how many of you are in favour of this trend of market pricing. I know that some are for it and some are against it. While we are discussing such issues, let's be more objective and mature and avoid behaving like kids. It is not a crime to disagree with the policies of market pricing. Neither is it a vindication of goodness to support it.

The Hippocratic Code

This is one of the most honourable code of any profession in modern society. I believe those who swear by it still believe in it and would like to uphold this code of conduct. The Code upholds the value of life, not money. What is happening to the medical profession is that it is being turned into a money making machine, a very efficient and ruthless one at that, by the people running it as a business. Today, being admitted into a hospital, even a privatised govt hospital, do not be surprised with a bill that goes above $30k or $100k or even more. The amount to be paid for a month or two in a hospital is enough to buy a 3rm HDB flat! The question is whether the medical professionals who swore by the Hippocratic Code have any say in how the profession is being turned into a money making machine in direct conflict with what the Code sets it out to be? The doctors were very highly regarded as honourable men with a noble passion to save lives and heal the sick. It will be very sad and disappointing should their reputation be tarnished by this madness to milk as much money as possible from the sick and helpless. These are people who are in a desperate state of medical and mental condition that made them highly vulnerable, and money is no longer a factor to them. To slap these people with an exorbitant bill beyond their means is cruel by all counts. The medical professionals should wrestle back the control and management of their profession from the business minded and money minded people and restore honour and respect back to them. Other industries can go to the dogs, but not the medical profession. It is the last bastion of human decency that needs to be defended by none other than the selfless and passionate medical professionals themselves.

Are there saints running corporations?

Bankers Can be victims, too! Everytime a Singaporean makes a frivolous investment claim against a bank, he undermines thousands of genuine fide cases Dec 31, 2008 This is the heading of an article posted in www.littlespeck.com. The gist of the article is that bankers are also innocent victims to unscrupulous customers. And the bigger picture is that most organisations, including banks, are run by highly righteous and honourable people. What a myth. In my experience, many organisations are headed by unscrupulous thugs. This is the kindest word that I can use. Anyone think otherwise, that there are saints running organisations? Of course there are a rare few that still believe in a little virtues and moral standards and responsibilities. In the name of profit, survival, politicking, all kinds of unspeakable things were done for self preservation. Anyone working in a corporation would have experienced them personally, seen them in practice or been a victim of such thugs. Am I telling the truth a bit too hard?

Market practice in govt privatised hospitals

Means testing starts today Those in B2 and C class wards will be asked to consent to checks on their income By Salma Khalik, Health Correspondent Patients are free to refuse income checks. But this will mean they automatically get the smallest subsidy: 50 per cent for treatment in a B2 ward and 65 per cent in a C-class ward. -- ST PHOTO: CHEW SENG KIM PATIENTS warded in B2 and C class wards in public hospitals from today will be means-tested to determine the level of subsidy they will get. They will be asked upon admission to give their signed consent to grant hospitals permission to check their income. I would like to suggest that the hospitals introduce market practices with respect to demand and supply, cost and charges like what HDB is doing. That is the fairest thing to do. Then there will be no need to mean test anyone. Anyone going to the hospital shall pay accordingly, at market prices. Cannot afford don't go. The hospitals are privatised hospitals and need to operate for profit and be answerable to the shareholders. We no longer have govt hospitals whose main mission is to provide affordable medical care for its citizens. There is no need for hypocrisy. Privatised govt hospitals shall run and operate like a private hospital. Otherwise it will defeat its purposes of being privatised and be unfair to its shareholders.

Going forward in 2009

As we move forward into 2009, the accepted wisdom must be caveat emptor. This catch phrase shall be the guiding principle for how we live and engage in all transactions and human interactions. Caveat emptor is the fairest principle to live by. Anyone got cheated is his own fault. He is expected to know what he is doing. We have the best educated population and we can't expect them to be stupid and be cheated so easily. There is no longer a need for institutions that check or audit corporations. There is no need for regulators. There is no need for rules and laws. We can save a lot of unnecessary business cost and time. Every transaction shall go by the buyers beware code, check yourselves before getting into a transaction. Oh, no need for the legal professions too. Contractual laws can be thrown into the dustbins. It will be the survival of the smartests. We shall call ourselves Caveat Emptor country. And we can laugh at all the silly people who got cheated or got rip off. It is simply their own faults. Life will be much simpler.