How Singapore makes central planning work |
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Institution: | 1. Farmingdale State College (SUNY), Farmingdale, NY, USA;2. Oakland University, Rochester, MI, USA;3. Georgia State University, Atlanta, GA, USA |
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Abstract: | In this article the author points out that, contrary to the assumptions of many, and the statements of some well-known writers in the fields of economics and management, central planning does work. It may be that Singapore has achieved success with it over a 25 year period because of the exceptional qualities of the leaders. Certainly that is part of the story, but the author suggests that the Singapore central decision-making body has been implementing what corporate planners would identify today as ‘orthodox theory’. He asks: ‘Could the same kind of success have been possible elsewhere?’ |
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