The Goodness of a Welfare State
Tim invited us to a nice sushi lunch at his office overlooking the Bank of England. Tim is a highly successful hedge fund manager in London. He is my favourite example of the goodness of the welfare state. He grew up in a working class family and would not have made it to University much less to Oxford if not for the generous welfare state and free education then.
Tim was not alone in my class of ten who did so. While two were from wealthy families, most were moderately middle class and humble working class to whom an Oxford education would be out of reach if not for state aid. They have gone on to become banker, lawyer, partners of Big Four accounting firms, insurance broker, academic etc. This is the better outcome of the welfare state that the PAP does not tell Singaporeans. Instead PAP inevitably highlights the abuses and how state welfare makes people feel entitled and become lazy. Sure there are abuses in any system but doesn’t PAP abuse the system and entitle themselves to million dollar salaries?