16 October 2010

Dispelling Fallacies In Economic Policies

Minister for Trade and Industry Lim Hng Kiang urged university students to guard against popular fallacies in economic policies.

Economics could be a powerful tool to clarify complex issues in public policy.

Singapore, more than most other countries, placed a high premium on applying rational thinking and empirical evidence in analysing and designing policies.  It could not base its decisions on instinct and gut feel.  Intellectual honesty and rigorous analysis were needed to chart an optimal path through the challenges.  Policies must be based on clear objectives and sound evidence.

Note: "Fallacies In Economic Policies Dispelled At MTI Economic Dialogue 2010", Monetary Authority of Singapore, 14 October 2010.

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