○  新加坡总理吴作栋理国庆群众大会演讲  ○

atio,caotbeviableinthelongrun.asuccefulbusinehastoflourishinafreemarket.itmustmakeagenuineprofitbybeingmoreefficientandiovativethanitscompetitors,andbyproducingsomethingwhichitscustomersneed,betterandcheaperthanothers.

arisk-takingculture
   ultimately,howsuccefulweareincreatinganenterprisingsingaporewilldependontherisk-takingprofileofsingaporea.

rewardsforsucce

thewillingnetotakerisksdependsontheeconomicandsocialenvironment.weshouldstrengthentheincentivesforpeopletoventureforthinthehopeofectacularsucce,ratherthantochooseasafepathandminimisetheriskoffailure.singaporeahavetodiscardthemindsetofseekingsecurejo.itead,weshouldalsocelebratethosewhohavethegumptiontotrytheirhandsatbusine.

weneedtoincreasetherewardsforsucce.akeyrequirementistokeepourtaxratesaslowaspoible.onereasontheushasamoreentrepreneurialculturethaneuropeisthatitstaxratesarelower,soitspeoplewhobuildcompanieshavemorehopetobecomebillionaires.ineurope,ifyourbusineproers,40ormoreofthewealththatyoucreategoestothestateintaxes.sotheincentivetotakerisksandsloghardtobuildacompanyisweaker.

celebratingsucce

socialattitudestoo,affecthowwillingsingaporeaaretotakerisks.weshouldnotresentbusinemenwhomakeitbig.thisisanotherdifferencebetweentheusandeurope.insomeeuropeancountrieswithstrongegalitarianvalues,apersonwhobecomesveryrichisfrowneduponbysociety,evenifhehasmadehismoneyhonestly.butintheus,stevejoandbillgatesarefolkheroes.singaporeisamoreegalitariansocietythantheus.butwetooshouldcheeronourentrepreneurs,sothattheywillcreatemorewealthforthemselvesandforsingapore.

acceptingfailure

wehavetochangeanotherattitude.wefindithardtoacceptfailure.wedonotgiveenoughcredittothosewhotry,failandgetuptotryagain.weshouldnotlookatthisintermsofforgiveneandtolerance,butintermsofadmirationandreectforriskandenterprise,andresilienceandtenacityinthefaceofadversityandfailure.perhabecauseofourdoggedpursuitofexcellence,orbecausewearesuchasmallsocietythateveryoneknowseveryoneelse,somebo

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