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PAP Fails to Create Top Entrepreneurs

Published Saturday, December 16, 2006 by Singapore Election |

It is no surprise that Dipankar Subba, a PR, behind the website kuzzuk.net facing serious challenges in leading our great nation. He believes that lack of Singaporeans in the list of BusinessWeek's Asia's Best Young Entrepreneurs has something to do with mindset of Singaporeans. I think not.

The problem however lies with our political leaders and how they lead this nation. Even though PAP-led Government does a lot to promote entrepreneurship, Singaporeans are still lacking channels to promote and test their creativity. When Singapore's new generation of entrepreneurs try to test their creative gears, the government often cracks down on their activities. Read this piece by Asia Times on how PAP's climate of political intimidation and censorship is failing to generate creative society.

And if you're wondering why so many Indians are on the list, the following extract might give you a clue.

India vs China: Rule of Law and Meritocracy
It is well known that the Chinese are master copiers, and openly sell merchandise sporting pirated designer labels or hawk intellectual property that is easily downloaded in our digital world. Although this also exists in India, it does so to a far lesser extent.

Private enterprise, private property and the rule of law has been the norm in India since the British occupation. In contrast, until recently, the Chinese government owned and controlled everything. It surprises many that Lakshmi Mittal, an Indian-born steel magnate, is the 3rd richest man in the world after Bill Gates and Warren Buffett. In fact, in Forbes' latest list of the world's wealthiest people, 12 Indians made the list and only two Chinese. And there is a growing consensus in India that this wealth creation can help everybody rise, not just those at the top.

Indian vs China: Education
India is built on a meritocracy where performance on exams dictates jobs and admission to the top-ranked schools. At the top, India's education system is as good as any, and the Indian Institute of Technology (IIT) rivals MIT as the world's producer of top scientists.

Furthermore the Indian Institute of Management recently had 200,000 applications for only 250 seats at its top Ahmedabad campus, a ratio that puts the Ivy League' selectivity to shame. Although India does have an "affirmative action" program for those in the lowest castes, the private sector is not subject to these quotas and therefore is free to hire "the best and the brightest."

There's no doubt that China is also developing top schools, both in science and in business. The latter is particularly important to China since the Communist system is filled with managers of state-owned enterprises that are woefully inadequate in a private-sector economy. India is ahead of China in this area.

Indian education at the lower levels is not nearly as good as at the top. In fact, several experts I talked to put "education" above "infrastructure" and India's number one priority. Nevertheless, the excellence of education at the top has given Indians a great deal of pride in their ability to achieve world-class excellence, and it has been a strong democratizing influence in a society that has been mired in a rigidly hierarchical caste system.

Extract from: India vs. China: Who Has the Edge? by Jeremy Siegel, Ph.D.

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PAP Fails to Create Top Entrepreneurs

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