Why we should care less about inequality in Singapore

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Refreshing take on the inequality debate in Singapore....

In a country as rich as Singapore with no absolute poverty, economic inequality just means some people have become richer than others. If they succeeded due to hard work and their own merit without depriving others, then inequality by itself is not a bad thing.

If the pie is constantly expanding, because people are constantly creating more wealth, then one person's gain doesn't have to come at anyone else's expense.

Inequality, we have to keep in mind, is not the same thing as poverty. 

Economic inequality is perfectly compatible with widespread affluence, and rising inequality is perfectly compatible with a society in which the vast majority of citizens are getting richer.

Inequality refers not to deprivation but difference, and there is nothing suspicious or objectionable about differences per se.

former US president Barack Obama said: "The top 10 per cent no longer takes in one-third of our income - it now takes half."

When individuals create something, there is no presumption that they should end up with equal shares...if wealth is something that individuals create, then there's no reason to expect that we should be anything close to equal, economically. 

For qns on inequality, meritocracy....

Qns:
1. In your society, how far is equality for all a reality? (Cam. 2012)
2. The person who dies rich dies disgraced. Discuss. (Cam. 2010)