Commentary: The other recession risk that Singapore should be wary of

Singapore may be heading towards a "social recession" if current trends of weakening social ties and community involvement continue, policy experts warn. Nicholas Thomas, Wong Kang Li, and Wilson Goh from the Institute of Policy Studies highlight this overlooked risk, suggesting it could compound economic difficulties.

The experts argue that a decline in social cohesion and civic engagement can lead to a less resilient society. This can manifest in various ways, from increased social isolation to a diminished capacity for collective action in times of crisis. The concept of a social recession, distinct from economic downturns, focuses on the erosion of the social fabric that binds a community together.

While Singapore's economy remains a focus, the researchers emphasize that a strong social foundation is crucial for national well-being and stability. They call for proactive measures to rebuild and strengthen community bonds, encouraging greater participation in civic life. This could involve initiatives aimed at fostering intergenerational connections, supporting local community groups, and promoting volunteerism. The goal is to create a more connected and supportive society that can better navigate future challenges.

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Weaker social ties and community involvement can contribute to the risk of a social recession in Singapore.