I think that sums up what I have been saying all along.

Goh Meng Seng
Originally posted by sarek_home:
Specifically, he is referring to economies that actively promote corporate and individual innovations: the United States, Taiwan, the UK and China, in that order. These economies have not only 'multi-element societies', but also a driving emphasis on higher education, especially in technology.
Encouraging innovation, the Fred Lin way
http://straitstimes.asia1.com.sg/money/story/0,4386,278387,00.html?
'Singapore is too rigid,' he says. 'Just take the case of university education. China's universities have integrated their research and entrepreneurship courses - which are highly useful for students wanting careers in business - more so than institutions in Singapore have.
'Things are too compartmentalised in Singapore. The desire to innovate comes from a society's culture and environment. The culture needs to be an enabling one, one that accepts entrepreneurship.
'A government doesn't have to get into micromanagement, but its role should be to establish a larger climate that encourages individual initiative and entrepreneurship.
'Thus, even if an individual has tremendous self-confidence, it's difficult for him to take off as an entrepreneur if the right conditions aren't there,' Mr Lin concluded.