Note: The following is just one way to view Singapore. It is not necessarily the right way. Just something that popped into my mind. Not intending to fully develop this view beyond what little bit I've written below.
Singapore is a pragmatic country. We pursue economic growth relentlessly. We are concerned about our bottomline. Every few years, we re-invent ourselves to keep up with the latest in economic trends. In good years, we even get dividends.
Our ministers and top civil servants are extremely well paid. This is to compensate them for their time and effort, as well as reduce their incentive to take kickbacks and their likelihood of being corrupt.
We serve NS not because of loyalty, a sense of servitude, or any feeling of pride in the country. We serve because we have a stake. We're born into the position of shareholder. Our lives have so far been intertwined with Singapore's excellent track record as far as the economy is concerned. As with any investment however, it is the future rather than the past that matters.
Going forward, we expect Singapore Inc. to continue to perform well. We expect a safe environment, we expect subsidized housing, we expect political stability, we expect accessibility and convenience.
Question now is, if our gains on this investment start to decline, or worse, we take losses, and Singapore Inc. starts to decline such that we are able to spot better opportunities elsewhere and the opportunity cost of migration goes down, should we then sell our stake?
What happens to the smaller shareholders (ie. the poor, the homeless, and other groups so heavily vested they cannot afford to sell)?
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