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Was George Akerlof Right on the Market Failure of Asymmetric Information?

The law of gravity works everywhere on our planet. Yet at some places, gravity doesn’t work. Few people know this. For some strange reasons, people and objects start floating into space. It is annoying and very dangerous and requires action by authorities. Physicists call this phenomenon Gravity Failure. If you think this sounds like total…
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Why The Answer To Climate Change Is Not Going To Come From Government

Why Government Isn’t The Answer To Climate Change In response to a contribution on TODAY by Adam Smith Center Director Bryan Cheang on the recent climate rally in Singapore, one writer kindly offered a rebuttal of his own. According to his own bio, Bertrand Seah is a political science graduate in NUS and a member…
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Greta Thunberg’s Stolen Dreams: The Politics of Climate Doom

“How dare you!” An indignant Greta Thunberg spat into the microphone as she stared out with her unflinching eyes at legions of starry-eyed guests at the recent UN Climate Action Summit. “You have stolen my dreams and my childhood with your empty words… We are in the beginning of a mass extinction, and all you…
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The Problem With Singapore’s First Climate Rally

The Problem With Singapore’s First Climate Rally Environmental activism today is in vogue. Climate change protests have been going on for years in the West. Yet it was only this past weekend where the importation of such Western-style activism to Singapore’s shores saw an officially organised, wide-scale effort. For that reason, it is worthwhile considering…
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What Makes Singapore’s Healthcare System Successful?

Since 2012, the UN has touted the lofty policy goal of universally accessible, high-quality and affordable healthcare to nations everywhere. Three years later, the UN put in place a finish line for this goal in the year 2030, and in 2017 continued to urge the pursuit of this goal for governments everywhere. As the annual…
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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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