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.
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.”