From Wikipedia's article on Singapore's economy:
Recently this has become one of those "standard replies" when you argue for less government intervention in the economy or for Austrian school economics.
My reply always is that Singapore has less government intervention in the economy than the USA, and if anything is testament to pure capitalism. I also feel that the Singapore Model may work for a small country but won't scale well to large country such as the USA.
But of course, the response comes back that Singapore "proves" that the government should be a strong player in the economy.
Anyone care to improve on that? I looked on Mises.org but found nothing (although I found out there's a Singapore chapter of the Von Mises Institute
Its innovative yet steadfast form of economics that combines economic planning with free-market has given it the nickname the Singapore Model.
Recently this has become one of those "standard replies" when you argue for less government intervention in the economy or for Austrian school economics.
My reply always is that Singapore has less government intervention in the economy than the USA, and if anything is testament to pure capitalism. I also feel that the Singapore Model may work for a small country but won't scale well to large country such as the USA.
But of course, the response comes back that Singapore "proves" that the government should be a strong player in the economy.
Anyone care to improve on that? I looked on Mises.org but found nothing (although I found out there's a Singapore chapter of the Von Mises Institute
