The Greatest City in the World: Built on Capitalism for the Prosperity of its People

How is it possible for a small piece of land with a high population density and without any resources able to provide maximum economic benefits for the majority of its citizens, without welfare or socialism? Simple. It’s called Capitalism. Free trade and free markets.

Capitalism is the only model of economic freedom that could have done this. It is plain for all to see. It has transformed Singapore into a beacon of prosperity. By 205o, based on Singapore’s projected economic growth, they are expected to become the richest people on Earth with income exceeding US$130,000 per capita.

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About RightFromYaad

A view from "the Right", as a source of ideas to create a new vision of freedom and what it promises for Jamaicans, to counter the tyranny of the status quo of Jamaica's reality since 1962. Website: RightFromYaad.wordpress.com Email: rightfromyaad@gmail.com Twitter : @rightfromyaad Facebook: https://www.facebook.com/pages/Right-From-Yaad/244886608978438?ref=ts&fref=ts
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4 Responses to The Greatest City in the World: Built on Capitalism for the Prosperity of its People

  1. There are a lot of specifics to Singapore to explain its wealth. To say it is just capitalism is overly simplistic. You have to take into account geography, population and the fact that its a small city state and hence would be reliant on international trade regardless. Also I’m not sure if a dictatorship is the best model.

    • As usual Robert always a pleasure to have you comment on our blog. Of course it is simplistic. But the premise is there. Without doubt, the basic tenets of capitalism and free market economics have propelled Singapore, without which they would have remained backward. Geography has hardly anything to do with it. Individual economic freedom has been the whole purpose of their system…What geographical advantage does New Zealand have?

      The governance system is not along the same lines of freedom on the other hand. Not a dictatorship…but the Peoples’ Action Party is certainly authoritarian, that is without doubt. However we must also acknowledge that Lee Kuan Yew & Co were forced along those lines to combat the influence of communism/Maoism/Marxism which would have led to totalitarian governance, restricted economic freedom and with no resources would have kept Singapore in the dark ages.

      The downside of this is that it is the nature of govt to grow and become more intrusive, one only hopes that the Singaporean govt keeps along the straight and narrow….at least to keep its growth at a rate less than that of the private sector….(Along the lines of Mitchell’s Golden Rule: http://danieljmitchell.wordpress.com/2011/10/30/mitchells-golden-rule/ …quite funny!)

      -KF

  2. Jonah says:

    for a ‘free market economy’ they certainly have a lot of government involvement in public education(with strong directives as to exactly what type of education to pursue), public housing (for a stupefying 90% of the population), active business seeking ambassadors, all kinds of living grants and bonuses for citizens, lots of nationalized infrastructure, 20% tax on land etc etc

    Singapore is a HIGHLY government designed and managed state.

    • Most every ‘nationalized’ thing in Singapore is run competitively as far as I am aware. Economically, they are closer to competitive capitalism than my country Jamaica (ever will be) which is only leftist in outlook. Singaporeans are not in the business of socialist motivations and altruistic desires. True Capitalism, requires laissez-faire, however can anyone point out a country whose govt likes competition as much as the Singaporeans and has achieved the progress for the majority of its citizen, that they have, in a 40 year period in recorded human history?

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