| Publication |
2014.
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| Summary/Abstract |
The economic convergence of large parts of the developing world with the advanced nations is the great story of our time. Sixty years ago, Singapore was an impoverished, malaria-infested island whose future absolute ruler, Lee Kuan Yew, admired the prosperity and civilization of the United Kingdom, where he had been educated. Singapore's per capita income has since surpassed that of the UK and the rest of Europe by a wide margin and, more recently, that of the United States. Today, one in six households in Singapore has more than $1 million in disposable assets. And as its extraordinarily rapid economic development progressed, Singapore converged with the advanced nations in other ways: by rooting out endemic corruption, adopting strict environmental standards, and making progress toward a more pluralistic and democratic society.
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