Crony Capitalism Index
A few days ago the Economist updated its Crony Capitalism Index, for the first time since the newspaper brought it out in 2016. The intention of the index was to measure the percentage of the wealth of the billionaires who are citizens of the country concerned expressed as a percentage of that country’s GDP that comes from...
Singaporeans have been shortchanged because of the PAP‘s policy
Lim Tean said that the most urgent task is to stop the wealth transfer from citizens to the state. I cannot agree more with this. For example, HDB would build new BTO flats and sell them to Singaporeans at a discounted rate relative to the resale market prices. They consider this a ‘subsidy’, and a policy which Singaporeans...
Capitalism over Democracy
Following the collapse of the Soviet Union 30 years ago, American economic advisers convinced Russia’s leaders to focus on economic reforms and put democracy on the backburner – where Putin could easily extinguish it when the time came. This is no trivial historical contingency. Had Russia become a democracy, there would...
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