The renowned paper by Curtis Milhaupt from Stanford School of Law had a wacky revelation – benevolent tyrants actually have an edge when it comes to playing economic Twister with the global market! Yippee, right? But why? Because elites throw massive tantrums when big changes threaten their piggy banks, even if the changes might be good for everyone else. Authoritarians can basically offer them shiny toys (protection for their businesses) to calm them down. Autocrats can forego the hassles of elections and instead build public support with a make-people-happy approach, showering them with jobs, houses, and other fun goodies! Unfortunately, in democracies, leaders are too caught up in the Game of Thrones to make any grand economic moves. Often they make impulsive decisions just to score a few points with the public, even if it could lead to trouble later on.

Now, benevolent autocracies aren’t without problems either. Wading through a sea of dictators to find a do-gooder autocrat is like playing Where’s Waldo — it’s not always easy. Crossing your fingers that they stick to their virtues or that their successors will do the same is like playing Russian roulette. The benefits of this system tend to fade once a country is well-settled into a strong economic groove, but by then, the autocrat at the top has stamped their mark forever, Muahahaha!

Singapore’s story is an eye-opener. Lee Kuan Yew, their master-builder founder, thought people didn’t really care about democracy as long as they had homes, jobs, and, of course, Wi-Fi! So, he crafted a Frankenstein’s monster of business conveniences from the West (courts, low taxes, zero corruption, and meritocracy) and stitched it with the autocratic bulwarks (hefty government control and little dissent) from the East. And just like that, a tiny island nation sans chewing gum became the fascination of the world! With the government controlling most of the media, this one-party disco never seems to end.

Step into Singapore, and you may feel like you’re in a utopian theme park. Everything is squeaky clean, safe, and orderly, like a trip to Disneyworld. The airport is a shopper’s haven, streets are litter-free, and crime is almost a mythical concept. Luxury cars are so common, it’s as if owning a Ferrari or a Lamborghini is the badge of honor for every citizen. But alas, all good things must twist and turn, and so Singapore now finds itself at a fork in the road. Their current leader, the son of the late Lee Kuan Yew, leans heavily on daddy’s success while looking forward to future elections. Even though the next prime minister has been selected and there’s a feeling of continuity, the ruling party is teetering on the balance beam of vulnerability, making the stage even more dramatic.