We are Free Market

Humanitarians

An

Illustrious

intellectual
tradition

Adam Smith

The Scottish moral philosopher and political economist Adam Smith changed the course of history by arguing that open and free societies naturally generate human prosperity and economic growth. His market-liberal ideas have enriched nations whenever they have been tried, and are the bedrock of the modern world we live in today.

Stamford Raffles

Stamford Raffles is not only the founder of modern Singapore in 1819, of which he is most well-known. Raffles was also a strong proponent of free trade, setting Singapore on a path to becoming an open and prosperous hub of trade and immigration.

Friedrich Hayek

Friedrich Hayek is a well known political economist and social theorist in the 20th century and who won the Nobel Prize in Economics in 1974. He is known for his warnings against excessive government intrusion into the market economy and how it would lead to tyranny. Hayek’s also influenced Singapore history though its first Prime Minister Lee Kuan Yew, who regarded him as a “very clear thinker” who “hit upon the eternal truth...that the free market is necessary to get the economy right.”

Build

THE FUTURE WITH US

The Adam Smith Center is the first and only independent organisation in Singapore dedicated to promoting pro-market principles in academia, public policy and wider society. Our mission is to inspire and build a new generation of free market humanitarians.

 

We believe that tomorrow's leaders should be grounded on the principles of individualism, free exchange, limited government & rule of law, and permissionless innovation, which are the driving forces for human welfare

Articles

AND
EVENTS

How Sweden Was Saved By Free Markets

A cursory glance at online political discourse in Singapore today will yield a common buzzword: inequality. This word paints a heart-wrenching image of a mass of people left behind in this rapidly digitalising age of global capitalism. Ask any idealistic university undergraduate how this problem can be solved, and the same politically correct answer will…
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Avengers Endgame: How Ticket Scalping Serves Consumers

Avengers Endgame hits theatres later this month, sparking a mad rush among Marvel fans to secure the best seats for the opening week. The issue of ticket scalping is back in the spotlight again as resale prices of tickets are skyrocketing. Intuitively, ticket scalping strikes us as insulting and an unethical practice that justifies legislative…
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Singaporean Youths Should Be Thankful For No Minimum Wage

The true home of the free and the brave is Singapore. Or more accurately, those courageous Singaporean workplaces willing to take on unpaid interns. All their labour can be free, but you have to be brave. If you don’t believe me, go to the first year students in Singapore and you will find plenty willing…
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Libertarianism In One Poem

Reducing income inequality, Curtails economic prosperity. Good-hearted intentions to close the the widening gap, Only puts the free, dynamic, growing economy at a cap. Through attempts of money redistribution from rich to poor, Like minimum wage laws, progressive taxes, and high subsidy tiers. Alongside provision of free universal healthcare and education, Instead of looking at…
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Is Virtue Signalling Our New Social Currency?

Is Virtue Signalling Our New Social Currency? The internet was imagined by its pioneers to be the arbiter of a new information renaissance, believing that it would revolutionise the way we learn and communicate. Instead, it has devolved into a platform for individuals to build their social currencies through virtue signalling and social justice stunts…
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Centralised Education Systems Strangle The Ambition of Our Children

Take a minute and think about the time you were a kid and thought of your future self.  All of us, at one point, have had a visual of us as grownups, doing something, enjoying it and making our lives about it. As a kid, I went to dance classes twice a week and to…
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Don’t Study Economics As A Martian

A Martian is observing Grand Central Station in New York. He is bedazzled by what he sees. Bodies wandering around aimlessly. He is curious and wants to understand what is going on. Then he notices that when the small hand on the station clock points to eight, there is a lot of movement as bodies…
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In Response to Donald Low

Donald Low responded to my piece from yesterday. In his response, he now concedes that the concept of market failures is given coverage in introductory econ classes. But I’m afraid this was not the impression given to his readers from his original co-authored article, which in my opinion gave more the impression that Econ 101…
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Econ 101 Does Not Only Justify Free Market Policies

In a recent Straits Times article, Benjamin Goh and Donald Low warned readers against the use of simplified economic theory in informing public policy. They point out that economic proposals such as free trade benefiting society and the minimum wage reducing employment may in fact simply be expressions of ‘the speaker’s ideology or dogma’, and…
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Political Freedom, Without Economic Freedom, Does Not Bring Growth

One of the most enduring questions in economics is what causes economies to grow. The full title of Adam Smith’s well-known treatise, An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776, clearly shows that the causes of prosperity were Smith’s primary concern. He concluded that free markets, the protection of private…
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What America Could Learn from Singapore’s Social Welfare System

A common libertarian view when it comes to welfare is that the role of the state should simply be restricted to providing a safety net. Such a basic net would guard society’s most economically vulnerable against falling through the cracks. Milton Friedman proposed a negative income tax as a way of encouraging the poor to…
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