Countries like Taiwan and SG (Chinese dominated) also have large numbers of family-dominated business. And why are they more steeped in cronyism than their nordic counterparts? The former may have developed its economy but not its culture. Democratic values !Among the Nordics, Sweden’s top families also have significant control in the top 20 largest firms – 55 percent – but the developed culture of collective bargaining for workers’ wages and a transparent democratic structure might serve to limit the families’ ability to expand their wealth at the expense of workers.
It was Singapore Prime Minister Lee Hsien Loong who famously said: “I would not believe that transparency is everything” when discussing the government’s management of investment funds (which the country’s national pension funds are transferred into).
“Secret society members are aware of the CLTPA, and it helps us keep them at bay,” said Inspector Eric Toh, an investigation officer with a decade’s work at the SPF’s Secret Societies Branch. “If not, they will cause much more problems; and influence much more people to join their gangs.
Koehn adds that these executives are “operating in a system that presumes the contribution of a good senior executive is very, very high.” But as we have seen from Cooper’s study, the evidence points to the contrary – “the more CEOs get paid, the worse their companies do over the next three years.”
I can see how this labor union / group bargaining can easily go wrong. Without a democratic backdrop. Where each man/group is for himself. At the expense of those outside the group.But labor unions should take note – the Nordic example where collective bargaining is done for each sector actually helped to increase wages to the highest in the world, but that is because they are democracies.
Despite the Koreans and Chinese touting and marketing their own version of collectivism, I find the nordics to be much more community-oriented. And having the ability to see the big picture, how their own individuality is a piece of a larger puzzle, i.e. the group.Individualism is defined by Hofstede as, “the extent to which people feel independent, as opposed to being interdependent as members of larger wholes.” Interestingly, East Asian societies have a knack of promoting “Asian values” with an eye to suppressing individualism while claiming that their collectivist cultures entail a willingness to comply to top-down hierarchy and obedience to elders.
But this individualism-collectivism dichotomy might be a mirage indoctrinated into the citizens of the East Asian countries. The Nordics are said to be individualistic and their scores on Hofstede’s scale confirm this notion, but they are at the same time collectivist.
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