(03-01-2022, 04:29 PM)sgbuffett Wrote:  4 countries beat us. We should learn from them

1. Provide high welfare benefits. Medical, retirement etc.
2. Ensure workers are unionised and empowered.
3. Implement minimum wages and generous support system.
4. Implement high taxes for  rich corporations and individuals.
5. Ensure that top management and leaders are not overcompensated.

(03-01-2022, 04:29 PM)sgbuffett Wrote:  4 countries beat us. We should learn from them

1. Provide high welfare benefits. Medical, retirement etc.
2. Ensure workers are unionised and empowered.
3. Implement minimum wages and generous support system.
4. Implement high taxes for  rich corporations and individuals.
5. Ensure that top management and leaders are not overcompensated.

(03-01-2022, 04:23 PM)lvlrsSTI Wrote:  

(03-01-2022, 05:05 PM)maxsanic Wrote:  I don't think the world competitiveness index implies any of the above factors you have mentioned.

IMD publishes in detail the 335 criteria which it uses to rank the countries here https://www.imd.org/link/ca00a8b4d6b4414896174056948fb5ab.aspx

1. There is no mention of high welfare being a criteria for high ranking. Retirement and pension takes up only 1 of the criteria 2.1.09 and the emphasis is on funding levels vis a vis payout liabilities rather than how much payout or support to workers.

2. There is no criteria that has anything to do with worker empowerment or unionization. In fact, the all employment and labour criteria under 1.4.XX and 3.2.XX are all macroeconomic indicators. The closest thing to union is days lost to industrial action, i.e. the more strikes (a.k.a. empowerment) you have, the worse your ranking becomes!

3. Minimum wage is not one of the criteria. The only criteria that has some relation is 3.2.01 under compensation levels, but that's not subject to a requirement for minimum wage as they simply do a summation of average wages in manufacturing, i.e. a high wage country w/o minimum rate will still rank higher than a slightly lower wage country with minimum rate. This criteria is probably affected more by cost of living than anything else.

4. Under tax policy criteria 2.2.XX, there is nothing about taxing the rich or big companies. Most of it are tax ratios as a percentage of GDP and some qualitative stuff like whether it discourages people from working. The way it's worded the opposite is true, the lower the tax rates in general the higher ranking and more competitive score a country will get in this criteria.

5. There is only one criteria dealing with top management pay equality - 3.2.05 Remuneration Spread which measures the CEO pay vs PA. There is a more generic 3.2.04 that deals with general management pay (more like PME rather than top management per se)

(03-01-2022, 05:12 PM)debono Wrote:  I don't understand the ranking chart., cos Switzerland with a score of 100.000 is ranked 3, while Singapore with a score of 94.703 is ranked 1....

(03-01-2022, 06:15 PM)sgbuffett Wrote:  The 5 factors I cited are not criteria but approaches and policies that help the 4 countries do well on the criteria. Ahead of Singapore.

Why? The 5 factors enable a high degree of human development that enhances the human capital in these countries to a point they can do much more with their people.

All the 5 things I cited are common across the 4 countries and have proven across time.

(03-01-2022, 06:18 PM)lvlrsSTI Wrote:  Spore was no 1 in 2020 but drops to no 5 in 2021 with total score of 94,703. Switzerland was no 3 in 2020 but no 1 in 2021.