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 unemploymentDr 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.