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Chapter Six - Election Rallies: Performances in Dissent, Identity, Personalities and Power
Chapter Seven - Mainstream Media Reporting In The Lead-up To GE2011
Chapter Eight - Shouting Down The PAP
Chapter Nine - The Overseas Constituency
Chapter Ten - The Voters Speak: Voices, Choices and Implications
Chapter Eleven - 2011 General Election Snapshots
All the invited speakers were extremely comfortable on the microphone, with Harminder Pal Singh especially engaging. A number of questions were fielded after the discussion, among which I recall one about the ministerial salary review committee (more of a statement than a question, actually), stating that it should come up for a referendum (unlikely). Another was about relationships between the various Opposition parties, which brought uniformly bland and expected responses that they were willing to cooperate. On regrets about standing for election, mostly none. The editors did rue at not being able to find somebody to look at the election from an economic/financial perspective, though. Overall impression of the book: Although the chapters are written independently (as far as I can tell) by separate authors (almost all professors/researchers at local universities), they are all in broad agreement, with a number of observations and conclusions being repeated. This leads me to wonder if the analysis is as clear-cut as it is - I would certainly shell out another S$30 to read a (pro-)PAP version. Shifting back into contrarian mode, is there a case to be made for 2011 to be a false dawn for the Opposition, as it was in 1991? Recall that the PAP got only 61% then, but managed to rebound to about 75% in a decade. Then-PM Goh put the dip down to being "open and consultative" (i.e. appearing weak) [N.B. this response was brought up by one of the speakers]. Might it be "it's the economy, stupid?" Data suggests no, with Singapore enjoying several years of over 10% growth in real GDP leading up to 1991, with things far rockier in the period before 2001 - it could well be that locals are more comfortable with exploring options when things are going well, but less willing to shake the boat in difficult times. Therefore, a crisis might actually benefit the PAP - but it must be of a sort that they are perceived to have not had influence over (e.g. something like an externally-caused global depression would qualify, but not policies like those on immigration and flood control, or a likely local housing bubble, which our new Minister for National Development seems to have acknowledged publicly); the worst economic scenario for them would likely be a stagnation in wages/rise in cost of living that cannot convincingly be pinned on some cause that is clearly outside their purview. On this subject, I found it noteworthy that not a few of my friends and acquaintances seem to have the impression that property is a fail-safe investment, and that only a lack of capital is stopping them from hitting it rich. The general plan, which I believe has been mentioned in several Straits Times profiles of savvy investors, does not deviate much - cough up the down payment (pooling funds if necessary) on a condo/landed property, rent it out and use this income to (mostly) cover the monthly payments, and sit happily on a fully-paid-for and greatly-appreciated property a couple of decades down the road. Clearly, this has worked here for quite some time, and has worked in many places, and at many times; however, whether it is completely foolproof is another thing. Increases in the price of housing outpacing that of wages cannot be sustained indefinitely, and social pressure is already beginning to rear its ugly head. Furthermore, I (and evidently, quite a lot of others) suspect that the property boom is in large part driven by the population explosion, from 3 million in 1990, to 4 million in 2000, to over 5 million today - local or foreign, we all need a room of our own, no? However, this rate of growth (which probably also drove our recent GDP increases. As Krugman wrote: "Singapore's growth has been based largely on one-time changes in behavior [e.g. doubling the population] that cannot be repeated...", "...all of Singapore's growth can be explained by increases in measured inputs. There is no sign at all of increased efficiency") can likely neither practically nor politically be maintained over anything but the short term. I like humanity as much as the next man, but can't really see the PAP pulling off packing 8 million people here in 30 or 50 years, while remaining at the helm; I for one am eagerly awaiting what the government of the day can pull out of its hat once quantitative population growth has been maxed. What now? Well, two milestones spring to mind: the result of the ministerial salary review (no fixed deadline), and the presidential election (by the end of August) - for the first, the PAP can be active, but for the other mostly reactive. The new salary levels will inevitably be taken as a signal of how sincere the ruling party is in accommodating the populace. Actually, I for one am not against sky-high salaries... if we get the performance to match. I doubt too many would be bothered about the ministers raking in a few million a year, if we actually managed a Swiss standard of living. The problem is that having (by far) the best remuneration in the world naturally begets expectations of the best governance in the world, and public sentiment seems to be that we got merely "pretty good". The way I see it, the PAP has three main routes open to them, whatever the recommendations (they do write their own cheques, after all): Firstly, they could go for minor tweaks to the current formula (by minor, I mean in the ballpark of a 10 to 20 percent cut), and hope that the issue dies a natural death, at least by the next election (due to this, if they take this option, I do not expect it to be taken before the presidential election) While this would show a firm hand and forestall the perception of weakness by implicitly maintaining that they were (almost totally) in the right after all, I would put it as risky, especially if they do not plan to yield much on other policy directions; the Opposition would likely be able to flog it to great effect in five years. Secondly, they could take a massive symbolic cut (50 per cent or more), which would go a long way towards appeasing the electorate (and to be frank, S$1 million down from S$2 million is still quite a packet). This would probably involve delinking ministerial pay from the Civil Service. Of course, figures in between (about 20% to 50%) are certainly possible, but seem neither here nor there to me, and may yield discontent while appearing indecisive. Thirdly, the formula might be given a wholesale overhaul, and no longer be dependent on the top performers in the private sector, but to metrics like a fixed multiple of the salary of the median worker, as suggested by the Opposition (however, the PAP may be hesitant to use this particular measure as a major component, given its origin). It's stick-neck-out time again, and my prediction as of now? The addition of feel-good care-for-the-little-guy factors in the salary formula, but which at current figures amount to about a 20% discount, and ride out the storm. Actually, it is probably more likely that the PAP will wait until the presidential election is over, to get a second feel of the ground. It is, of course, possible that the election will be another walkover - but this really does them no favours, given that several credible candidates (albeit all with PAP connections) have presented themselves. My take? Despite still considering it, I feel that our present President is quite unlikely to throw his hat in the ring for various reasons. The more interesting question is whether the PAP will push (subtly, or not-so-subtly) any particular candidate. Personally, I would think no, as they would have more to lose than gain from that - which would be another breakthrough in itself. If it shapes up to be a three-way between our former Foreign Minister, Mr. Yeo, and Dr. and Mr. Tan, I would expect Mr. Yeo to take it with something like a 50-30-20 share, all things considered. He has a wellspring of sympathy to draw upon, a certain respect among many Opposition voters, and a higher profile. He has set himself two weeks (only one of those remaining) to make a decision, and my guess is that the decision will be yes. If Mr. Yeo does not run, I would expect it to be a toss-up among the remaining candidates. While the level of support for a clearly non-PAP affiliated candidate would shed a lot of light on the current mood, I do not expect any such candidate to make it through the application process, more's the pity. Next: Dear Mr Ham
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