Sure MM is right but why do we need to produce Fortune 500 size companies? The book above only draws from US examples, but there are lots of such companies all over the world especially in Germany. I have only began to scratch the surface of alternative approaches to our challenges.
MM is a genius but he is not omniscient. He had some clever ways, but the world is changing and producing myriad possibilities. There are many other ways too. The PAP is stuck in one immovable paradigm. Time for new wine.
My fear is that the hard truths of keeping Singapore going do not change because they are as unchangeable as human nature. Without the test of hardship and danger, the people naturally take for granted many hard facts of life here. I think the MM do not know how to reach out them successfully and his successors are doing an abysmal job at it.They are forever talking up and encouraging us that we can do it, and we have the resources. The facts of life, their unpleasant truths are rarely or more like never mentioned.