Singapore excels in many areas of business and finance, but it is part of human nature for a culture to want to be food self sufficient.
Let me produce your food, cheaply, and I will buy your biotech, cheaply.
Great. Until one day- for whatever reason - I can't buy your food. Either because markets have shifted away from what I can produce, or because of a global meltdown or breakdown of the payment system.
And then what? I'd rather do something that is slightly "inefficient" and be food secure than take that risk.
Speaking of which, what is this obsession with "efficiency?" Where did it come from? I don't disagree that it is good to be efficient. But any good taken to an extreme is a bad.
You talk like a textbook. And that is where your theory excels. The real world is a little different.
But it is a cool idea.
And what's it to you about how the people of Singapore choose to organize themselves and their government? On a per capita basis, I bet that Singapore is richer than the US.
To be mean is never excusable, but there is some merit in knowing that one is; the most irreparable of vices is to do evil out of stupidity. - C.B.
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