| Abstract: | Singapore attained self-government in 1959. Her policy of relying on the MNCs to achieve industrialization has proven to be very successful. The Singapore model shows that economic strategy must be flexible to meet the changing needs of the Singapore economy. One such economic strategy is the wage system.
During the period 1959–1990, the wage system in Singapore changed twice, once in 1968, and again in 1985. The purpose of this paper is twofold. First, we examine the need for wage reform, and secondly to discuss various patterns of flexible wage models in Singapore. The main conclusion is that Singapore's flexible wage models can benefit both the worker and the employer. |
