The Reality of

The Wall St. Journal’s Mary O’Grady, along with Fraser Institute Senior Fellow Steven Globerman, explore the stunning economic rise of the small city-state since gaining independence in 1965, and examine how it is able to provide many of the same social services that Westerners do-universal health care, retirement, housing, education, unemployment, for example-but with much smaller government and lower costs.
While some have characterized Singapore’s interventionist industrial policies as socialist-style, successive Singaporean governments have actually prioritized growing the economy and raising living standards primarily using market forces rather than government control.
This video is part of a new multimedia project, The Realities of Socialism, by the Fraser Institute in Canada, the Institute of Economic Affairs in the UK, the Institute of Public Affairs in Australia and the Fund for American Studies in the U.S.
Visit www.realitiesofsocialism.org to learn more.