When LKY first tabled the bill in parliament in the 90s (can't remember the specific year) to peg Ministers' pay to the market, Chiam ST and Low TH of course opposed it. In rebutting the 2 of them, LKY with his usual smug face said that such a method of paying Ministers' pay would become conventional wisdom in the years ahead. In other words, he's saying that he's way ahead of other politicians elsewhere for conceiving such a brilliant idea which other countries would eventually follow his method.
After 20 years, not one single country adopted LKY's method with none of those political leaders who are managing much much bigger countries with much much responsibilities coming close to our PM, SM, MM and the President in terms of salaries. In fact it is said in some of these countries, the combined salaries of the whole cabinet is not as much as the salary of our PM alone. And now, PAP themselves has to initiate a review and a cut in their salaries is imminent.
So where is the conventional wisdom now that LKY said would materialise? So for those who still think that LKY is a most visionary and wisest politician that ever live, what u see happening is the Hard Truth indeed.