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The Practice of Economic Growth

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The importance of fast economic growth in developing countries has been an undeniable fact since the early 1970s. Singapore, in its rise from a struggling colony to its present status as an economic success, offers a glimpse of the factors that contribute to the growth of a thriving economy. This book is a collection of Dr Goh’s essays during his years as Minister of The importance of fast economic growth in developing countries has been an undeniable fact since the early 1970s. Singapore, in its rise from a struggling colony to its present status as an economic success, offers a glimpse of the factors that contribute to the growth of a thriving economy. This book is a collection of Dr Goh’s essays during his years as Minister of Defence. Besides defence, Dr Goh explores sociological and economic issues extensively. (30 speeches and essays, 1972–77)


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The importance of fast economic growth in developing countries has been an undeniable fact since the early 1970s. Singapore, in its rise from a struggling colony to its present status as an economic success, offers a glimpse of the factors that contribute to the growth of a thriving economy. This book is a collection of Dr Goh’s essays during his years as Minister of The importance of fast economic growth in developing countries has been an undeniable fact since the early 1970s. Singapore, in its rise from a struggling colony to its present status as an economic success, offers a glimpse of the factors that contribute to the growth of a thriving economy. This book is a collection of Dr Goh’s essays during his years as Minister of Defence. Besides defence, Dr Goh explores sociological and economic issues extensively. (30 speeches and essays, 1972–77)

5 review for The Practice of Economic Growth

  1. 5 out of 5

    Kes

    I loved this book for a look at what 1970s Singapore faced - looking back, it's easy to think that it was unfettered economic growth, but the mention of recessions and the difficulties faced post-independence. Nowadays, it feels like there's chatter about how Singapore would naturally have succeeded in the 1960s, post-independence; but it seems to detract from the pessimism at the time: from Dr Goh's speeches, he mentions how magazines in the 1960s would publish articles about Singapore's dark I loved this book for a look at what 1970s Singapore faced - looking back, it's easy to think that it was unfettered economic growth, but the mention of recessions and the difficulties faced post-independence. Nowadays, it feels like there's chatter about how Singapore would naturally have succeeded in the 1960s, post-independence; but it seems to detract from the pessimism at the time: from Dr Goh's speeches, he mentions how magazines in the 1960s would publish articles about Singapore's dark horizon. That being said, these are primarily speeches made by Dr Goh, and they lean a bit towards optimism for the future, and perhaps, his view on what difficulties the country has made it through together. But he does a good job at outlining the challenges he foresees would affect Singapore. There are other interesting facts too - there's a speech where Dr Goh talks about how Singaporean lower income workers face competition from other Southeast Asian countries, which had a deflationary impact on wages (Singapore's wages were higher than other Asean countries), while Singaporean professionals were compared to competition from Europe and North America - which had an inflationary impact on wages. This would lead to growing income inequality. He didn't foresee how tech would amplify these differences, but I thought that comment was rather prescient, and is a situation that Singapore still grapples with. Another fun fact - that Singapore's port leveraged technology to increase the number of containers that passed through the port - while keeping the workforce about the same level. As an aside, some of the speeches can get a tad technical - quite a bit of economic theory. As a non-economist, I can't comment on that aspect. All-in-all, would highly recommend this book.

  2. 5 out of 5

    eckw

  3. 5 out of 5

    Cameron Priest

  4. 5 out of 5

    Ming

  5. 4 out of 5

    Darlington Matambanadzo

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