Uploaded March 2026 | Updated September 2026, 2 weeks ago
Many point to geography or sanctions, but the data tells a deeper story about economic institutions. Explore how Singapore transformed from a resource-poor island into a global powerhouse while Cuba stayed frozen in time.
Read more: fee.org/articles/the-recipe-for-singapores-prosperity/?utm_source=youtube&utm_medium=social&utm_campaign=fee-online
In the 1960s, Cuba and Singapore faced similar constraints: small size, limited natural resources, and uncertain futures. But their policy choices set them on radically different paths.
Cuba embraced central planning. The state took control of production, restricted private enterprise, and tied the economy to political priorities. The result has been stagnation, chronic shortages, and an exodus of people seeking opportunity elsewhere.
Singapore chose markets. It protected property rights, welcomed trade, and created space for entrepreneurship. Over time, it became one of the richest countries in the world, with rising incomes, world-class infrastructure, and expanding opportunity.
Many point to geography or sanctions, but the data tells a deeper story about economic institutions. Explore how Singapore transformed from a resource-poor island into a global powerhouse while Cuba stayed frozen in time.
Read more: fee.org/articles/the-recipe-for-singapores-prosperity/?utm_source=youtube&utm_medium=social&utm_campaign=fee-online
In the 1960s, Cuba and Singapore faced similar constraints: small size, limited natural resources, and uncertain futures. But their policy choices set them on radically different paths.
Cuba embraced central planning. The state took control of production, restricted private enterprise, and tied the economy to political priorities. The result has been stagnation, chronic shortages, and an exodus of people seeking opportunity elsewhere.
Singapore chose markets. It protected property rights, welcomed trade, and created space for entrepreneurship. Over time, it became one of the richest countries in the world, with rising incomes, world-class infrastructure, and expanding opportunity.
