Saturday, August 8, 2015

Economy: Happy Birthday Singapore!

(Drivebycuriosity) - Today Singapore celebrates her 50th birthday. On August 9th 1965 the city-state (population about 5 million) became independent from Malaysia (wikipedia). I have visited the place 3-times, last in  the year 2000. I really loved being there and I am fascinated by Singapore.

It is a beautiful city - green, modern, clean and tropical. Singapore was the most advanced place I have seen. The polity blends modernism with a lush tropical vegetation - a kind of technological garden city. The food is great. Restaurants and the myriads of food stalls you can find everywhere serve a variety of regional dishes: Indian, Malaysian and the many local cuisines of the  Chinese  regions. And the summerly dressed girls are especially pretty.

Singapore is the proof that even very small countries and city-states can prosper in a modern world. The city is one of the most developed and wealthiest countries in the world (huffingtonpost   economist). The citizens of the tiny state gained more income & wealth since the secession than the  people in Malaysia, thanks to the intense trade relationships with the rest of the world and a smart government.

Small countries - and city-states - are less complicated than huge states. They are easier to govern and to manage and they are therefore less bureaucratic. Singapore´s government is closer to the citizen and can respond better to local needs. This leads to a high efficiency - and effectiveness - due to little congestion in communications, quick reaction to unanticipated problems, high ability to deliver of services, good information about local conditions, and strong support from beneficiaries of program (wikipedia).

Economists are praising government and population there. "The citizens and leadership of Singapore have an unparalleled knowledge and understanding of economics, engineering, and public policy" writes Tyler Cowen, economic professor & owner of the influential bog "Marginal Revolution (marginal). And he adds: "Singapore has created what is possibly the highest quality bureaucracy the world has seen, ever".

Happy Birthday Singapore!

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