Tag: singapore free market economy

More Proof Why Capitalism is Humane and Socialism Kills and Impoverishes the Masses

SINGAPORE’S FREE MARKET CAPITALISM VS. INDONESIA’S SOCIALISM

These two countries are within a few miles of each other. In fact, you can see the other’s islands from the shores of each country. But the two countries could not be more different. Singapore engages in free market capitalism and their Economic Freedom Rank is 2nd in the world. At the time of this writing they are the 3rd richest country in the world per capita. Indonesia, on the other hand, is governed by a socialist government. Indonesia’s Economic Freedom Rank is 99th in the world and they are the 3rd poorest country in Asia. Imagine having to live in the poverty of Indonesia and witness from your shores Singapore’s prosperity on a daily basis. How frustrating to think that you were born just 28 miles too far from that free market capitalism.

Singapore’s ‘George Washington’ Passes Away and What America Can Re-Learn from Him (article)

Rest in peace Mr. Lee Kuan Yew.

Modern day Singapore would not exist without this extraordinary man. Just like America's founding fathers, he was willing to do some of the hard things that make a nation prosperous. Free markets, capitalism, anti-welfare, and no minimum wage helped Singapore prosper. Despite the lack of individual liberty for Singaporeans, the man understood free markets and capitalism and his economic policies were the reason he was able to turn Singapore from a third world country into a first world country in a matter of a few decades. He elevated the lifestyles of all Singaporeans significantly.