| ▲ | Terr_ 2 hours ago | |
> Singapore's economic policies are complicated and often misdirecting. [...] it's sovereign wealth Tangentially, I've had a similar gripe around how some US folks discuss Singapore's similar old-rival Hong Kong. They'll advocate "Hong Kong shows policy X works, we should do X here too", while ignoring the other half of the system required to make it work, policies the same advocates would never want to adopt. In particular, celebrating HK's "tax freedom" while glossing over how the government does fund expenditures. It's the ultimate landlord, deliberately constraining supply (with high subsidies to the poor to prevent revolt), and draws from its huge [0] sovereign-wealth fund. [0] Huge by any US standards, even if far smaller than Singapore or Norway. To put the per-capita amounts in context, if the US is 1x, then HK=80x, Singapore=356x, Norway=379x. | ||