SMRT

[Temperament]

NTL you're a bit too pessimistic It is not a zero sum game. Increasing cost of cost centers may not be a bad thing if it increases productivity. A person who trades successfully may want to employ a middle office because it makes him more effective focusing on more important stuff. In aggregate, the system benefits as a whole. We have more important stuff to do than to get stuck travelling point A to B.

As per my post below in this thread, we should look at the totality. And there is no best solution. there is only optimal solution that benefits the most people.

That's NOT how capitalism would work... ie to benefit the most people. It is pure faith that as the system becomes more efficient, the society benefits as a whole; and most of the time it is true, if given right incentives. But incrementally and historically we know over time it benefits those with capital much more and the wealth gap widens. Capitalism is also inherently incompatible with democracy as it is one $ one vote. There is not just argument for argument sake but long term implication on policies and society. Once we understand that we understand why capitalistic Buffett support death tax and minimal tax rate for the rich. And I'm also supporting that as a guy in finance past 15 years.

Public transport is a public good. It should be operated as one.

An academic that made sense

"So why did we fail? The answers must be complex. But one fundamental error could be simple. We expected every artery of this ecosystem to be financially viable. The disastrous result of looking at each artery and not looking at the ecosystem as a whole is that while each artery made sense in isolation, the combination did not result in a good ecosystem. Even more dangerously, by looking at each unit in isolation, we did not consider its impact on the island or the nation as a whole."

http://www.valuebuddies.com/thread-969-p...l#pid61967

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Yes, 中庸之道 is the way. The next question is where is the balancing point. Doesn't it the current structure work in this way? Capitalistic in operation by SMRT/SBS, and socialistic in regulation by LTA. The question now is we need to find a more appropriate balance point between the socialistic and capitalistic objectives.

I agree that obsessive focus on PnL or state support alone on public goods, is not sustainable.

The problem is I observe that regulatory balance had given way and played second fiddle to capitalistic ideals. But this is not unique to Singapore. Just look at US on the credit crisis where no self serving bankers or traders were charged, or the SuperPac system. US is priming itself for another crisis of SIMILAR nature further down the road because the system has not changed, from lobbying by vested interest.

And i agree. Nine times out of ten World Financial Crisis started from USA. No matter what is or are the reasons. September 11, 2001 or not.