Lee Hsien Loong Quotes
I don’t think everybody fully appreciates the consequences of slower growth, which are very serious. You need growth to have the resources to build the infrastructure, housing, to uphold the standard of living.
Lee Hsien Loong, Prime Minister of Singapore, Interview with Lally Weymouth, The Washington Post, March 17, 2013
Sourced by: Eigen's Political and Historical Quotations
Mises defines government revenue in such a manner that it always relly belonged to individuals, therefore when government invests in enterprises that accumulate capital via profits, Mises does not consider it capital accumulation. One counterexample of this point is the George Washington Bridge in New York, built in Mises lifetime by Robert Moses of the New York Port Authority. The tolls on the bridge paid off the bondholders who financed much of the initial construction. But then capital started to accumulate at such a rapid rate that Moses was able to build other capital projects ranging from highways to the World Trade Center Buildings with capital constantly accumulated. The New York Port Authority under Moses generated more capital appreciation than any corporation that had been in existence at that point. And he could not even sell stock. However, the Port Authority and a few others were exceptions. Generally government did was unable to accumulate capital in its enterprises.
Lee Hsien Loong is a Singaporean politician and former army general who has served as Prime Minister of Singapore and secretary-general of the People's Action Party (PAP) since 2004. He was deputy prime minister to Goh Chok Tong from 1990 to 2004 and finance minister from 2001 to 2007. His wife is Ho Ching, the CEO of Temasek Holdings.