Singapore and Jamaica

In 1959, Singapore and Jamaica were economic and population equals. Over the next 40 years something incredible happened. Singapore has become an economic powerhouse while Jamaica has stagnated.

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In the above Gapminder graph, the yellow dots plot Jamaica’s course while the red dots chart Singapore’s. What could possible explain this?

I believe the answer is in supply side economics. While both nation have similar needs from a population and climate standpoint, only Singapore has focused on creating supply for others. Jamaica’s belief has been, “We need, so it should be given to us,” while Singapore’s has been, “We have created and provided, and it has been given to us.”

3 thoughts on “Singapore and Jamaica

  1. This is such a great illistration – thanks Ed. The are many examples in the world that we should be using to decide what’s best for our country. Unfortunately the politicians have us agruing over which party is the best. Keeping our attention off what’s really going on.

  2. Thanks, Rob. I think you are correct. That is why I have joined the Texas Libertarian Party and decided to run for Texas State Senate. The Ds and Rs are rearranging the chair on the deck of a sinking ship.

  3. Pingback:On Supply-side Economics - Ed Kless' Weblog

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