Singapore’s Productivity Paradox: Decline Masked as Stability
Dr Goh Keng Swee built Singapore’s growth model, then warned in 1972 that it would eventually fail us in three specific ways that have already arrived. So we have an economy that keeps growing while Singaporeans keep feeling worse off. I wrote this to trace how we got here, why GDP has stopped telling us the truth, and what an honest restructuring would actually require.
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2620 words·
13 mins