Singapores founding fathers contributed most to its economy. Do you agree? Explain your argument.

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Singapore’s founding fathers contributed most to its economy. Do you agree? Explain your argument.

Singapore’s founding father refers to those who put great effort in Singapore’s development after independence in terms of political, military and economy. I focus on their tangible, significant contribution. ‘Contributed most’ actually means the most important contribution which is constructive in sustaining Singapore’s development. I do not agree with the statement that Singapore’s founding fathers contributed most to its economy. Instead, they contributed most to Singapore’s politics.

Founding fathers Goh Keng Swee and Devan Nair helped Singapore lowered the unemployment rate and at the same time make the labour force more effective. Just after independence, Singapore was suffering from a high unemployment rate up to about 15%, and there were insufficient job opportunities to cater to the masses. Goh Keng Swee managed to transform Jurong from a small fishing village into a large and thriving industrial complex, equipped with efficient and modern infrastructure and facilities. Jurong Industrialisation in the first place created more jobs for the local people as factories were set up. This sharply decreased the unemployment rate. Furthermore, it relieved the pressure of the new government as more people got a job and could live on themselves. The government could spend less money on aiding at the poor. Also, due to the low cost of workers, there was an influx of foreign companies and investments into Jurong as Industrialisation had provided a platform for investments and cheap labour force were available. The investments gave raise to Singapore’s economy and further solve the unemployment problem since more jobs opportunities were created. Lastly, Singaporeans could directly purchase products manufactured in Jurong, which was cheaper than those imported in most cases. This stabilise the home market as products would be more affordable.

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During that period, labour force was also suffering from a low standard of welfare. Some of the workers were literally starving to death. Such labour force did not have high effectiveness in working, losing its competitiveness. As a result, foreign investments would barely chose Singapore. To deal with the problem, Devan Nair founded National Trade Union Congress which lowered prices of living for the citizens and made daily necessities more affordable. Such actions effectively solved the problem of widespread food shortage. Furthermore, NTUC’s low price was served as a competition to other businesses, which forced them to lower prices ...

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