It's an old argument. A statist (a polite word for fascist) regime can quickly correct obvious inefficiencies leading to a quick and easy boost in productivity. Hayek argues that the jolt is temporary and, in so far that nothing creative seems to come out from Singapore, he seems be at least partially correct.
The question is, however, if this is a regime we'd like to live in. A regime where dissent is closely regulated and suppressed (including through canning). A friend's father, formerly an editor of the WSJ, is banned from Singapore for writing an article critical of the boss.
I don't think it's a coincidence that Silicon Valley is in CA and has attracted millions throughout the world, to program. People take risks and failure is a badge of honor - not a stain on your family's honor.
Meanwhile Singapore has someone who was, according to his ex-adviser, a great mathematician/programer. But then he joined the consultant/political class.
The question is, however, if this is a regime we'd like to live in. A regime where dissent is closely regulated and suppressed (including through canning). A friend's father, formerly an editor of the WSJ, is banned from Singapore for writing an article critical of the boss.
I don't think it's a coincidence that Silicon Valley is in CA and has attracted millions throughout the world, to program. People take risks and failure is a badge of honor - not a stain on your family's honor.
Meanwhile Singapore has someone who was, according to his ex-adviser, a great mathematician/programer. But then he joined the consultant/political class.