I agree with most of this Reaper...... but "the political incentive to resolve the problem should see it addressed." is mo wishful thinking.
I can't accept that any political party will have the courage to take the bull by the horns and address in any significant way. you're right that greed is the primary driver and this applies equally to all political parties. none wants to upset the profitable apple cart or even consider a radical alternative. and no doubt the Singapore model would be argued strongly against as radical and a "socialist" model designed to deprive the free market economy of its right to exploit and profit from unconscionable profiteering.
