Marginal REVOLUTION
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Singapore’s Pay Model Isn’t India’s: Market Wages vs. Civil-Service Rents
In my post How High Government Pay Wastes Talent and Drains Productivity I pointed to evidence that high government compensation in poorer countries creates tremendous waste and drains the private sector of productive talent. A reader asked: What about Singapore?—famous for paying its top officials very well. Singapore, however, is hardly comparable to India. Its […]