IPS-Nathan Lectures by Mr Ravi Menon — Lecture II: "An Innovative Economy"

The Singapore Synthesis by Mr Ravi Menon
The Singapore Synthesis of markets and government; meritocracy and equality; and international orientation and national identity has underpinned the country’s remarkable journey from third world to first. In this four-part lecture series, 9th S R Nathan Fellow Mr Ravi Menon will examine how Singapore’s approach will come under pressure from four tectonic shifts altering the global landscape. Although relevant, Singapore’s guiding ethos of adaptation, meritocracy, and pragmatism may no longer be sufficient. To secure our future, we will need more innovation, inclusion, inspiration. What does an innovative economy look like? What does it take to create a more inclusive society? What does it mean to be an inspiring nation? How does it all hold together in a refreshed Singapore Synthesis?

An Innovative Economy
Singapore is now less of a catch-up economy, succeeding by following industry trends, adapting best practices and improving existing lines of business. It is increasingly at the frontier, and frontier economies can grow only by innovating. What does it take to foster an innovative economy? If the future is Asian, digital, and green, is Singapore well placed? What does it need to do differently to succeed? How does all this depend on Singapore continuing to remain open?