Albert+Winsemius+-+Dutch+Economist

Albert Winsemius = =

Singapore’s powerful economy, which has the highest GNP per capita in Southeast Asia, and virtually no poverty, was shaped primarily by one person: Albert Winsemius, Singapore’s Chief Economic Advisor from 1961-1984. In 1960, Winsemius, already a well-known economist in his native Holland, was asked by the United Nations to asses Singapore’s potential for industrialization. Albert Winsemius with the Prime Minister of Singapore Lee Kwan Yew

After his first visit to Singapore, Winsemius called it “a poor little market in a dark little corner of Asia” whose greatest asset was the “high aptitude for her people to work in manufacturing industries. They can be ranked among the best factory workers in the world.” Winsemius advised Singapore’s government to make use of this asset by creating more jobs, especially in textile production, in order to attract foreign investments. This was the first of four suggestions for Singapore’s economic advancement offered by Winsemius.

The strategy of emphasizing manufacturing jobs is the first thing that cities wishing to emulate Singapore’s success can do. The other three areas emphasized by Winsemius were the creation of the Housing Development Board, which provided houses to nearly all of Singapore’s residents, the promotion of education for jobs in technical or electronic fields, and the establishment of Singapore as an international economic center: after the stock markets in San Francisco closed there was a gap of a few hours until the markets in Europe opened; Singapore was able to fill that gap.

Though the low levels of poverty cannot be directly attributable to him, Albert Winsemius’ actions as Singapore’s Chief Economic Advisor have helped a previously small economy reduce poverty and become a global center of finance and trade.

1. “Singapore.” __Encyclopedia Britannica.__ 15th edition 2007. 2. Ong, Christopher. __Albert Winsemius.__ 3 Aug. 2009. National Library board of Singapore. 11 Feb 2009. [|http://infopeida.nl.sg/articles/SIP_1457_2009-02- 11.html] 3. “He Believed in Singapore’s Future.” __Ourstory.asia1.com.__ 3 Aug 2009 []