Yes
bigger pie is what people forgets. EVERYBODY benefits when everybody grows wealth together. On a bigger scale China was deemed as a leech when it entered WTO, and now it is the largest auto and luxury market. The rich benefits from selling to better-to-do middle class. That's self enlightened interest which many people fail to see due to myopia.
But sorry I don't understand your illustration of the tragedy of commons and I don't know what is NIMBY
(03-05-2013, 06:25 PM)specuvestor Wrote: [ -> ]Yes bigger pie is what people forgets. EVERYBODY benefits when everybody grows wealth together. On a bigger scale China was deemed as a leech when it entered WTO, and now it is the largest auto and luxury market. The rich benefits from selling to better-to-do middle class. That's self enlightened interest which many people fail to see due to myopia.
But sorry I don't understand your illustration of the tragedy of commons and I don't know what is NIMBY
NIMBY = not in my backyard.
Once a popular term, and still common behavior in Singapore
In Singapore, the pie is indeed getting bigger & bigger. But it's contributed mostly by the middle class who becomes smaller & smaller. COE & HDB both together will see that the middle class is disappearing or downgraded.