So how come Lee Kwan Yew could implement actual working capitalism on a poor, landless and resourceless postcolonial shithole surrounded by enemies wishing to subdue it, and make it one of the richest countries in the world?
Reminder that Lee Kwan Yew was: -fiercely anticommunist and refused to establish relations with the Chinese Communist Party, calling it illegitimate -a profound libertarian and social darwinist -a race realist who promoted chinese immigration because he thought malays and indians were dumber -quoted with saying America shouldn't waste money on blacks because their capabilities are limited -banned porn and introduced sumptuary laws to curb fun -thought democracy was not for nonwhites and ruled with a firm iron fist -made Singapore richer than Germany and Japan in less than 4 decades
truly i have seen the truth of capitalism, clearly this is practicable as a model for the world
25% of the GDP in Singapore comes from state owned industries. Government owns 90% of the land and gets its revenue from land tax combined with the aforementioned state owned industry, this is why income tax is so slow 80% of the people live in social housing, they actually use 5 year plans
>mfw singapore is more socialist that venezuela guess ancaps should move to venezuela now
It was a combination of strict, authoritarian regime, excellent geographical location and superb economic policy. Let me clarify a bit. The location of Singapore made it an excellent trading post, but of course, this didn't really make them rich. What made them rich was their openness to business (as you know, you can't escape capitalism and flow of capital). They also shifted away from import-substitution in favour of export-led industrialisation. In few decades, many companies around the world set their facilities in this small country, both US and USSR (which made Singapore safe). After that they made some really wise investments which resulted in transformation into service-driven economy, and now there we are.
Didn't Lee Kuan Yew use Stalin's Five-Year Plans as inspiration for Singapore's economic model?
this Literally no single view of the capitalist economy can claim Singapore as their shining example. They used every card in the book to develop their economy, from low taxation to attract international business, to state jobs being dolled out in mass to ensure employment. More importantly, why is this something for Socialists to worry about? We critique capitalism in it's developed forms, not that it is something that developed productive forces.
Flags will tell you everything Singapore isn't libertarian or ancap by a long shot, but it is still an artificial capitalist social democracy. Also, a lot of it's development was dependent on the support and aid of other major capitalist countries who both stood to profit by providing funds and needed an ally and buffer against China
Ironically Singapore has helped China aswell, we have alright relations with them
Because capitalism today is mostly about finance capitalism. It has nothing to do with resources or material conditions anymore. Money is literally just created on computers via abstract financial instriments. Singapore positioned itself as a tax haven and financial capital of South asia, and so a lot of capital moves into and around it.
Literally all the bigger metropolis are like this. NYC and London don't actually make anything. They are just financial hubs