Comparing the past and present.
We say, last time a taxi driver can feed a family with only one income. Now, that's not possible.
Last time, a teacher who has worked for their whole can live in a landed property. Now, teachers probably won't be able to afford it when they grow older.
And the question becomes... Is it fair to make these comparisons?
The world has changed.
Singapore has changed.
The dynamics of demand and supply has changed.
Sure. It's compelling to compare and complain about it.
But none of us complains when demand and supply work in our favour.
We only complain when it works against us.
The thing is, when the world/Singapore changes, the economics changes along with it.
The supply of educators 50 years ago was a lot less than now.
Now, there are many more graduates than before.
I don't know the demand and supply of taxis in the past versus now. So I can't comment on that.
Every country faces this, and every generation as well.
If your skills where low in supply 50 years ago, then you could make more compared to everyone else.
Similarly, if your skills are low in supply now, then you could also make more compared to everyone else.
However, the skillsets which are in demand and the supply of them are significantly different.
So no. I do not think it's fair to compare the lives of our ancestors against our own lives now.
We tend to compare how much easier it was for our parents or grand parents.
Times when homes were cheaper, cost of living lower, etc.
But, I'd like to add...
Then how come when we talk about charity, there are specific groups catering to elderly?
Why are so many elderly not financially independent?
If things were so easy in the previous generation, then the folks from our parents and grandparents generation should be swimming in money.
In the past, someone with an ok pay could pay up their HDB loan within 10 years.
That's still possible currently.
BUT, it's not the same jobs. The skills required to attain an "ok" pay aren't the same as what they used to be.
This post is highly related to a previous post I did...
That's all... Things are just different for every generation. Not really fair to compare directly. I believe we can at most, make reference to the past and how things were, but a direct comparison would be highly biased and unfair.
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