Even after achieving the status of a developed economy, many
economies face other challenges which may include economic
stagnation and income inequality. The book looks at how a mature
economy can continue to weather challenges and how the growth of
living standards will depend on productivity growth through
Singapore's experience. After Singapore's rapid economic
transformation, the nation is at a crossroads. The book explains
how productivity growth in turn depends on technological diffusion
from abroad as well as indigenous innovation. It also examines how
the design of policy to develop indigenous innovation to promote
economic dynamism may come with creative destruction and disruptive
effects on jobs and wages. The Singapore Economy provides insight
into how we can maintain social cohesion and establish a political
equilibrium that embraces the new sources of growth through policy
formulation for economic inclusion.
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