Economics Commons^™

Economic Development And The Distribution Of Land Rents In Singapore: A Georgist Implementation, Sock-Yong Phang

PHANG Sock Yong

Independent Singapore, which has a tradition of free trade, has implemented large doses of Henry George's prescriptions. It has successfully captured land rents for redistribution through its land acquisition, public housing and other programs. These policies have been instrumental in the successful economic development of the island city state. Industrial estates on state-owned land were leased to foreign multinationals for export-oriented manufacturing which created the bulk of jobs in the sector. Commercial developments are built by the program. Affordable 99-year leasehold housing, built by the state, provided added economic incentives for employment, and helped keep inflation and wages down. Private …