ST-SMU Future of Education: In the third of a four-part series on the future of education, social economist Phillip Brown cautioned that a university degree may not deliver the good life any more.  He stressed that Singapore needs to nurture local talent that multinational corporations (MNCs) will find attractive, and who will help anchor their presence here. He also noted that nurturing the small- and medium-sized enterprises will grant Singapore a degree of economic autonomy within a context of MNCs constantly seeking to cut costs through relocation.