SINGAPORE’S MIRACLE IS NO MIRACLE

 

Books about Singapore usually praise its achievements or criticise its authoritarian rule. But few ever probe its widely publicized claims that it is a brilliant success that other countries should follow.

 

Singapore’s workforce productivity is often mediocre and well below that of the West and Asian economies such as Hong Kong.

The so called Singapore miracle was not due to creativity and innovation but based on manpower mobilization and brilliant marketing to attract foreign investment during the early days. As any detailed economist can see, this is no miracle, but basically it was about “getting the house in order”. Unlike elsewhere in Europe or any Nordic countries, creativity and innovation is not found in Singapore
The city state also displays endemic inefficiencies and mediocre performance at both macro and micro economic levels. The performance of  financial, research, education construction and service sectors is second-rate compared to the west.

The entire Singapore economy is “run like a casino”. A “Gambler’s Economy” where price inflation, manipulation of demand and supply, low wage labor exploitation money laundering and socio economic ponzi schemes fueling profits rather than innovation and creativity. With such setup, unscrupulous or mediocre enterprises have crept their way into Singapore’s economy further fueling socio economic problems.

Singaporean workers work the longest and are most stressed in the world. In Singapore, the cost of living which is a expensive as some western countries is not proportional to one’s income and working hours. In other developed countries, one can easily afford a car and home even if she or she is a cleaner.

Singaporeans students one again come up top as the most stressed students in the world according to certain indicators but. The education system puts emphasis on rote learning and paper qualifications rather than critical thinking. It also does help one realize their own dreams and aspirations but follow the state economical ideals. Many Singaporeans even though hardworking are unable to secure a place in university due to overwhelming completion and limited places. Moreover, Singapore’s educated are unfit for employment any creative or innovation driven enterprises.

Singapore’s Economy as one may call is a “freak” economy. It does not have natural resource input and depends on the tide of world economy. Singapore has gone through various economic recessions in the past years. Lack of laws regarding employment results in unfair termination and wage payments by companies resulting in grief even for competent workers.

Today’s problems have their roots in PAP decisions made decades ago. These decisions were made on the run with Yes-men with group-hugs under an illusion that it is one solution that fits all problems
Scholars and highly paid mandarins prized their pride and status above nation progress. Any criticism by commoners about their failures are constantly downplayed, and polticial critics  of the government are sued for defamation or locked up in prison.

A closer look as Singapore is a country, one may notice the  city state has 2 systems.

1) The leadership work under a system that are designed to protect themselves and in the process, deadwood and weeds gather and clot the oxygen needed for advancements.
2) The masses work in an exploitative system that keep the leadership fat and bloated.
As one can see this system is based on stone age medieval or dynasty rule where peasants serve the rulers, elites and kings.

However in recent years the two systems had been marred with problems like corruption, inefficiency, social problems and unfairness. The effect of this is far reaching often reaching the capability to completely screw the whole setup. Everyone is seeing the clear effects of this in today’s Singapore.

There are other countries, committed to open, democratic processes that have been spectacularly successful in creating economics that are both dynamic and fair — with far less inequality and far greater equality of opportunity than in the United States.

The economic achievements of the Nordic countries are in large measure a result of the strongly democratic nature of these societies. There is a positive nexus not just between growth and equality, but between these two and democracy (the flip side is that greater inequality not only weakens our economy, it also weakens our social stability). Many countries that have such problems have fallen into social anarchism where the system has failed and skewed towards a favoring single side.

Singapore is still living in the past and would slowly fade into oblivion as the developing countries progress and overtake it. Its best days are over and certainly not a miracle as they would want you to believe.



Source: Wee from Down under