Review 15: Singapore's Authoritarian Capitalism Asian Values, Free Market Illusions and Political Dependency, by Christopher Lingle (1996)
Reviewed by:
Global Investing, Volume 6, Issue 1 (January 1996)
"... Dr. Lingle describes Singapore's system as "authoritarian capitalism." This hybrid combines selective economic freedoms and private property rights with strict control over political life. In such a system, political loyalty replaces the efficient use of resources as the determinant of success. Sycophantic business relations replace the growth-inducing actions of true entrepreneurs."
"... Dr. Lingle questions the sustainability of Singapore's "miracle" economy because of internal contradictions arising from these imposed institutional arrangements. By applying his analysis by analogy to other East Asian economies, you could even argue that the "Pacific Century" will be stillborn."
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