23 September 2009

"Pernicious" - a very appropriate description of present-day economists.

“Economists live completely within a false world,” he says. “If I had one wave of a wand – and I could make one decision for the government to implement – I would press for the compulsory re-education of economists. I’d force them to learn about the law of thermodynamics, to understand how the natural world works, and then let them back out into the world, because their role at the moment is pernicious – there’s no doubt about that.”

See also:

Mah Bow Tan vs. Laws of Science

Singapore's Former Chief Statistician (Dr. Paul Cheung) Clueless About Carrying Capacity

02 September 2009

PM Lee Hsien Loong said:
Our basic attitude has been that environmental sustainability is not incompatible with economic development. We have systematically and resolutely tackled used water and other issues faced by cities all over the world.

Speech Link
May I ask the Prime Minister: How would you consider this externality? Positive or negative for the environment?
Vietnam’s prime minister has asked relevant ministries to inspect Mekong Delta sand exports after a local newspaper said exports to Singapore were booming, altering the area’s water flow and causing environmental damage.

Full Report
Is this Peak Sand for Singapore? Now that Indonesia, Cambodia and Vietnam have banned sand exports, perhaps we could source for sand from further locations like Africa or South America to fuel the construction sector of our economy in order to sustain our misguided quest for continuous economic growth, which has been mistakenly viewed as desirable and beneficial, but which in reality has turned UNeconomic.

This ban on sand exports would probably lead to higher construction costs which will be passed down to the buyers. Perhaps this could be reason for another property "boom"? Rejoice! Because it adds to economic growth (GDP)!

It's only sand this time. What happens if Thailand and Vietnam ban the export of rice because of a poor harvest? I don't think many of us would enjoy going on a calorie-restricted diet. Don't bother to turn to Malaysia and Indonesia for help because they are rice importers themselves with a total fertility rate around twice that of Singapore's. If they can't feed themselves, you can forget about them lending us a hand.

Does anyone still think we need 6.5 million of us to maintain the Singapore government's nonsensical notion of a sustainable growth economy?
Hanoi - Surging international demand for sand is leading to excessive dredging in Vietnam's Mekong Delta, damaging the terrain and the environment, officials said Monday.

The jump in sand excavation is fueled by demand from Singapore's construction industry, which is searching for new sources after Indonesia and Cambodia banned exports.

Full Report

01 September 2009