Bryan Cheang

The Morality of Capitalism

Free market capitalism has a bad rap today. This is despite its global spread, especially since the end of the Cold War and the fall of socialist states within the iron curtain. In fact, many blame unregulated markets for the most recent financial crisis in 2008. While free markets are generally considered the most efficient…
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Can Markets Bring Relief From Disasters?

As hurricanes have hit the US, a debate has been raging over the role of markets and governments in disaster prevention and post-disaster relief. Only this week, the Nobel Prize-winning economist Joseph Stiglitz pointed out what he described as an “obvious lesson”, which was that “markets alone won’t protect you” from natural disasters. This, he explains, is…
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What About Monopolies?

One of the main criticisms levelled against the free market is the concept of market dominance, or market power. Free markets are great, but they often lead to the accumulation of power by certain firms, who end up as monopolies, or so the argument goes. One firm may eventually end up gobbling other smaller ones,…
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Lee Kuan Yew liked Fredrich Hayek. Do you?

Former Prime Minister and Founding Father of Singapore Lee Kuan Yew, we can all agree, was an intelligent, well-read man who saw Singapore through its turbulent years. It would be interesting to explore some of his intellectual influences and whether they hold any relevance for us today. Significantly, Lee was a strong supporter of the…
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Why Lee Hsien Loong Is Absolutely Right On Inequality

Income and wealth inequality is recognised as a big problem around the world today. It is perceived to have contributed to the backlash against globalisation in Western countries, the rise of populism amongst the electorate. The World Economic Forum identifies rising inequality as a big threat against the world economy. In Singapore, there is a growing chorus of economists…
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Stop Conflating Inequality With Poverty

The problem of inequality has often been considered to be one of the biggest social problems of our generation. Widespread concern about the great disparities of income and wealth have fueled anti-globalisation sentiments all around the world, and threaten to undermine the advances in trade, investment, and immigration we have seen. One key problem is that contemporary discussions of inequality…
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