It's Not the How or the What but the Who

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Singapore and Jamaica

Back in 1965, Jamaica and Singapore were identical twins: both subtropical islands of similar size and population, both recently emancipated British colonies, both very weak economies with comparably low income per capita.

Fifty years later, Singapore has become one of the most competitive nations on earth, with an income per capita higher than $60,000, the fourth-highest in the world. Meanwhile, Jamaica remains a third-world state, with an income per capita of less than $7,000, which puts it in 101st place.¹

Each time I visit Singapore, I marvel at its extraordinary evolution, and I smile—because I know that its success stems not from how it is led (indeed, it started as a benign dictatorship and only slowly evolved ...