- Joined
- Jul 10, 2008
- Messages
- 64,816
- Points
- 113
Firstly, a country is not like a company. So a government is not like a board of management. The production operator is also not like a citizen. A company is in it for profits. A country has many more externalities and stakeholders.
Production operators do not vote for the CEO. If so, then there is some analogy.
That may the case with some countries such as Australia, Brunei and a handful of other nations blessed with natural resources. Unfortunately, with a city state such as Singapore, the only way to ensure that the country stays afloat is to run it according to sound economic principles. That means it has to turn a profit on a regular basis. If it doesn't, it'll turn into a basket case in no time at all.
Singapore has about 690 square kilometers of land. That is its production floor. With this limited area, it has to create sufficient economic activity to feed its population, defend its airspace over a 500 km radius, defend its sea routes, invest for the future and grow its economy without any options for any major expansion.
All this has to happen while the rest of the world is nipping at its heels eager to steal Singapore's slice of the pie at a moment's notice at the first signs of weakness.
If you think Singapore can afford to run its economy along some touchy feely principles while ignoring harsh economic realities, you're living in some sort of dreamland. Welfare, democracy, social justice are words which will ring hollow when there is no food on the table.