Could Milton Friedman, recipient
of the 1976 Nobel Memorial Prize for economic science
runs SG better
than
DR ALBERT WINSEMIUS (1910-1996). who was Singapore's
long-time economic advisor for his invaluable contribution to its
development?
If Friedman had a chance to advice Sg in 1960's or later,
---could he gave better advices than DR ALBERT WINSEMIUS?
----what would he adviced?
He might say:Let the invisible hands do the jobs.Government should
not be involved in business...
Milton Friedman
DR ALBERT WINSEMIUS
1.Laissez-faire is the
main theme of Milton Friedman
"Hong Kong flourished with a policy of nearly complete
laissez-faire and that it seems to me is the appropriate policy not
only for Hong Kong but for all countries," he(
Friedman) added.
2.DR
ALBERT WINSEMIUS saves Singapore from high
unemployment
Dr Winsemius's association with Singapore began 1960 when he led
a United Nations team to Singapore for a survey on Singapore's
potential in industrialisation. At that time, Singapore had just
attained self-government. Not many people believed that
Singapore would survive. Yet Dr Winsemius, a mere
foreigner, had great faith in Singapore and believed firmly that it
had a future.
In 1961, after a year of surveying, he came out with a 10-year
development plan to transform Singapore into a high
technology and high-valued added industrial hub. He went
on to become Singapore's chief economic advisor, a position which
he led for almost 25 years.
In the 1960s, Dr Winsemius helped set Singapore on the road to
industrialisation, with the emphasis on the creation of
jobs and building an attractive investment climate. His
first move was to set up low-value industries, such as the
production of shirts and pyjamas in factories as it was then the
only manufacturing activity in which Singaporeans had sufficient
experience. It was also Dr Winsemius's suggestion that the
Housing and Development Board should start with a
large-scale public housing programme.
To convince big Dutch electronics companies like Philips to set up
production plants in Singapore, Dr Winsemius personally went to
their headquarters to persuade them.