less land intensive activities like trade, manufacturing, and services. Between 1965 and 1989 the share of agriculture and fishing in GDP fell from 3.1% to 0.3% (Wood, 31). Beyond having high automobile taxes, the government offers other incentives to alternative transportation. They have a network of high quality public transportation which consists of buses, taxis, and a mass-rapid-transit (MRT) system. The MRT routes link the major housing estates with the central business district. Also showing Singapore's commitment to high quality transportation is the national carrier, Singapore Airlines, which has a world-wide reputation of excellence (Deyo, 47). On fiscal policy, the government of Singapore enforces private savings and manages a surplus in its own budget. Savings exceed 40% of income and most is handled through the Central Provident Fund under which employers and employees contribute 18% and 22% to respectively. Withdrawals from this account are only allowed for home purchase (the main use), retirement income, home repair, and hospital expenses. (Buchanan, 107). Singapore is classified as an upper-middle-income country by the World Bank. Performance-wise, Singapore's economy has done very well compared to the rest of the world. In 1989 the unemployment rate was at 2.2%, down from 6% in 1970 (Wood, 32). The GNP per capita in 1985 was $7420, the second highest in Southeast-Asia behind Brunei. Wages, which are controlled, rose 8.7 percent per annum (compared with a growth rate of 4.6%) between 1979 and 1984 (Woronoff, 140). Between 1965 and 1990, the average annual growth rate of Singapore's per capita real GDP was 7.2% compared to 6.7% for South Kore...
