What next after the Services Industry?, page-10

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    I am afraid that education alone is not going to be enough
    .
    "Of the countless “rags-to-riches” stories told throughout the ages, there are none as astounding as those that have played out in South Korea and Singapore over the past half-century. Once in the company of the world’s poorest and least developed, the two countries have thoroughly transformed themselves into ultra-wealthy hubs of global commerce. In terms of GDP, South Korea ranks 13 in the world, with an economy of $1.4 trillion. Singapore, meanwhile, is the 36th richest country with an economy of $307 billion. The global median GDP is around $33 billion. Moreover, South Korea has a GPD per capita of $34,355 and Singapore a whopping $82,763, far exceeding the global median of approximately $11,000."

    "Singapore and the United States both gained independence in the hopes of being able to self-govern. Yet, Singapore and the United States, two ex-British colonies, have developed strikingly opposing political trajectories and economic policies. On average, U.S. GDP increases by 2 percent annually; Singapore, however, has averaged an annual GDP growth of 7.7 percent since 1965...

    Today, Singapore ranks as the seventh richest country in the world with USD 75,250 per capita. Singapore inches on the heels of the United States, the world’s sixth richest country, with USD 77,653 per capita. Yet, the two nation’s antithetical government models and gaping contrast in population sizes pose a paradox when contextualized through the nearly identical GDP per capita. While Singapore’s population is a mere 5.6 million, the United States is approximately 66 times larger, with a population of 330 million. Singapore’s ratio of wealth to population indicates just how much money a small amount of the population harbors..."

    Ok, Ok Singapore is not a very democratic country, contradicting the thought that economic development leads to democracy. But the question is: how did they manage to go from rags to riches in a record time?

    Certainly, not by having leaders continuously prioritizing political survival over modeling good leadership or the long-term prosperity of their nation nor by allowing foreigners to own an important chunk of their press and in that way to tell Singaporeans which objectives they should be pursuing and, crucially, what role should the state be playing in that.









 
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