Singapore has done well, but real consumption per capita is about 20% less than Hong Kong despite similar GDP per capita because of government waste through the government linked corporation
I’ve written about the success of Hong Kong (particularly when compared to nations such as Cuba, France, and China), but haven’t paid as much attention to Singapore.
But it’s time to correct that oversight. I’m motivated to write about Singapore because of a story that reveals one of the unique features of that jurisdiction: The bureaucracy gets monetarily rewarded if the economy prospers.
Here are some passages from a Bloombergreport.
In Singapore, civil-servant bonuses rise and fall with the economy’s performance… The nation…links civil servants’ bonuses to how well the $298 billion economy does. …Civil servants are typically paid a variable incentive twice a year, on top of a fixed one-month bonus. The mid-year payment was skipped in 2009, when the economy contracted during the global recession. …“Singapore may be one of the few countries that explicitly pegs bonuses to growth,” said Vishnu…
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Utopia, you are standing in it! 
Nov 28, 2014 @ 16:40:49
competitive market yes free market no and no-one really wants a free market anyway.
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