An Autocratic Ruler needs to control the following to maintain a tight grip over both power and people->
1. Education
2. Religious Interpretation
3. Taxation
4. Currency
5. Military
6. Monopoly Permits
7. Land
8. Unions
9. Publishing and Broadcasting
10. Property Rights
Of course, this is an expandable list!
Many are arguing that I should add more to it.
I just added a few domineering aspects, tools and policy interacting methods of governance, which a ruler might bring into use!
You may add more to the above suggestions.
In modern times, no leader, in the so-called developing world, outside the Fascist Southern European Region, the NAM Nations, LATAM Markets, and the OIC Bloc, had exercised so much control, across all walks of life, other than Late Lee Kuan Yew of #Singapore
I will do a thread on LEE KWAN YEW in the following few minutes.
#Singapore, a tiny City Nation-State, has probably one of the highest living standards in the world. They are the best example of how strong leadership backed by an educated workforce can drive a nation out of poverty.
All other SE -Asian Tiger Economies were led by strong leaders, who delivered.
The 2nd Tier SE -Asian Nations like Malaysia (UMNO Led Dictatorship in the form of BN - Barisan Nasional Front), Vietnam (led by the Communist Party), Indonesia (stood firm under Sukarno a Marxist Tyrant and later Suharto a Commanding Military Man), and #Brunei
(that is still ruled with an iron-clad fist of the Sultan/King), except for the Philippines(that was doing relatively well under Gen. Marcos until the commodity prices busted during the 1980s) were all partially successful in delivering relatively clean governments,
high economic growth, a strong surge in per capita GNP, Industrialization momentum through a rise in the domestic and foreign fixed asset capital formation rates, and this was done under the umbrella of political/legal/constitutional stability of some kind.
Of course, Unions and Trade Activism were suppressed and socialists largely got shut up calls across SE-Asian Nations, after the fall of the USSR.
No nation can progress without stability!
But stability means single party/ man rule, which was the case in two of the Asian Tiger Economies, namely Hongkong led by the British Viceroys(Unelected) and Singapore led by their strongman Lee Kuan Yew;
excluding Japan(operating under Gen. #MacArthur’s plan after WWII) and later S. KOREA, under Gen Park Chung Hee, which managed to kick out the military junta with full force.
Singapore is the product of a King Philosopher “Late Mr Lee Kuan Yew”.
The latter was probably the most brilliant statesman, under whose leadership an island (city) state was transformed into an oasis of peace and prosperity!
No other leader in the modern history of mankind has been able to develop systems and deliver economic development based on law and order, on such a phenomenal scale, in such a short period of time.
I, as a student having keen interests in the areas of social sciences, development studies and International Political Economy, has followed Lee Kuan Yew over the years, as a role model.
I felt so sad when he passed away because I always used to listen to his advice and golden quotes on YouTube.
He always had something unique to say to all of us!
What a naturally gifted man Lee Kwan Yew was, and I salute him for the works he did as the Founding Father of Singapore.
Lee never really changed his views and only, at the end of his political career, did he allow casinos to operate in the Island City.
He was forthright, stubborn with his opponents, strong vocal, incorruptible and above all a visionary! a leader, a doer, a Bismark on the Asian Scene.
What made #Singapore so successful?
Of course, it was Lee and his team! the Civil services Head appointed by the great leader brought in the best of the best talent to serve Singapore.
All the right people were appointed to the right positions at the right time!
Never came under pressure, as he knew his country was surrounded by Anti -Singaporean forces.
Lee and Goh developed a strong defence and to pay for that a strong economy backed by an equally well-disciplined and well-educated workforce and civil society.
I remember how he turned this mosquito-infested swamp and fishing village into an economic force for others to recognize. In fact, not many people know about it,
but the fact of the matter remains that Deng #Xiaoping changed #China and opened the latter's doors to foreign capital and investors after he had visited #Singapore, back in 1979!
Deng was astounded to see how clean, green and well-stocked #Singapore is compared to China only within a span of 18 odd years.
It was Lee Kuan Yew who changed not just the entire region, but his views shaped the future of Mainland Chinese Leadership too!
All Chinese up to 1979 were tail-end #Soviet Products, speaking Russian as their second language.
Lee taught the Chinese how to make their economy more outward-looking.
His own economic vision and that of his Finance Minister - Dr Goh, for Singapore, was remarkable!
After building up foreign exchange reserves for Singapore under Dr Goh, the MAS - Monetary Authority of Singapore, became an icon for other central banks in the region, never looking back again!
Lee understood the Chinese X - Factor well! he knew the Chinese were born businessmen and entrepreneurs.
He knew how to harness the potential of his talented businessmen by moderating their animal spirits.
Today what we have in #Singapore, is a Capitalist economy based on a Socialist bed.
#HDB flats, the #CPF Central Provident Fund, the excellent social infrastructure, the world-class universities, the English speaking masses, the clean and green sustainable development,
the friendly attitude towards foreign capital investors and businesses, the relatively corruption-free working atmosphere, the second to none judicial system,
the excellent and strict application of laws, the secular state mindset, and above all the support given to Lee by his talented and well-trained bureaucracy made #Singapore what it is today!
I remember how once Lee compared Singapore to Ceylon aka Srilanka!
That is a very important comparison.
Because #Srilanka like #Singapore is a former British Empire Colony.
Both countries have an English speaking educated elite and are backed by masses with a high degree of literacy.
So why Ceylon aka Srilanka FAILED?

And why on contrary Singapore Succeed?
Because Singapore did not exacerbate Racial Tensions!
They adopted ENGLISH as their official working language and the language of choice and instruction at most of their academic institutions, and as the language of correspondence and speech in the government.
Unlike, how the Ceylonese Sinhala Buddhist Extremists imposed Sinhala across the board, which led to bloodshed and Tamil Insurgency in the North of Ceylon.
Lee didn't want to turn Singapore into CEYLON, aka Srilanka! he knew matters of Language, race, and religion can spark fireworks! he didn't allow the three nefarious factors to spoil his society or damage the nation’s fabric.
Lee, who started as a Socialist, changed his views dramatically after he studied the Japanese Economic Revival in the post - Korean War years.
He was very impressed to note the productivity growth and rebuilding work done by the Japanese after the end of WWII and during the Korean War.
Singaporean Economy became synonymous with MNCs and TNCs. Multinational Companies opened up head offices in Singapore and the latter became a regional headquarters for foreign capital.
The Jurong Industrial Park was a starling success and so were the other industrial investments e.g. the entrance of Petro and Industrial Chemical/refinery businesses in the #Singaporean market. The Japanese were the first to take advantage of Singapore’s Economic Location.
The Water Management System of Singapore was another miracle performed by Lee Kuan Yew! Water recycling and water conservation became Lee’s obsession.
The water deal signed with #Malaysia enabled Singapore to just manage its scarce water resources, but the way Singapore re-cycles its water is remarkable.
Also, the cleaning of Singapore’s seaside was just another remarkable achievement of Lee Kuan Yew.
Today, Singapore boasts excellent views of the sea, with numerous buildings standing on the waterfront.
Lee Kuan Yew didn't tolerate useless chattering and political dissent, and never allowed the opposition to talk nonsense! I think his firm handedness paid off.
He always used to say there is no room for two competitive teams to exist in Singapore.
There will always be one team, which will lead the nation forward!
This was the advice that leaders of other vulnerable nations might want to consider?
I can go on and on!

Lee will be remembered as the Bismark on the Asian stage, and today he is attested by all scholars, students, and keen watchers, working in the fields of both entrepreneurship and leadership.
From Imran Khan PM of Pakistan to President of Rwanda to many others within the Chinese Politburo to the most important leaders on Capitol Hill, continue to regard Late Lee as an Icon of state-guided market economic development and as a China Watcher!
To sum it up in Margaret Thatchers own words, =>
"that there was no prime minister she admired more than Mr Lee for ‘the strength of his convictions, the clarity of his views, the directness of his speech and his vision of the way ahead.
His place in history is assured, as a leader and as one of the modern world’s foremost statesmen.”
How right the Iron lady was!

THERE CAN BE NO OTHER LEE KWAN YEW!

Long live great man’s hard work!

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More from @SAH16928046

24 Jul
I will not invest in a mutual fund, until and unless I won't carry out specific due diligence of my own.
These @MorningstarInc style fund reports are not very helpful.
You should know inside out about the management and especially the fund manager who will be managing your money.
The standard Bull Shit advice marketed in the industry by investor relations and advisory experts =>
Maybe you can check out the Sharpe and Sortino ratios for funds before investing.
If you understand risk management concepts, do check out the VaR - Value at risk figures of all the competing funds drawn from the universe of investment possibilities.
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22 Jul
What are the commonalities among these three?
1. Marxist theory of surplus-value
2. Freudian theory of Libido, aka Id
3. Lévi-Strauss theory of Structural Anthropology
You must listen and try to decipher the CBC Massey Lectures delivered by #George #Steiner back in 1974 to answer the above tweet.
I have the greatest respect for this polyglot scholar par excellence.
So was Karl #Marx and his #Hegelian Materialistic #Dialectic that explained the economic history of social #evolution using scientific processes, a by-product of #Romanticism that had swept European Intellectual and Literary Circles?
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21 Jul
Can data science overcome quantitative finance in terms of employment and salary?
Well, I think you are asking a relevant question.

It can be explained using a Social Darwinian Perspective.
First, the Simple answer =>

YES =>
Quantitative Finance will get absorbed into Data Sciences and Machine Learning Areas as a sub-field.

WHY?
Read 13 tweets
20 Jul
Even Art and Sculpture are now being used to manage wealth by some private investment teams.
I won't be surprised if portraits and handicrafts become a major asset class for the HNW Clients.
Due Diligence Risks remain, and the possibility of money laundering can't be ruled out!
Wealth Management as a subject is rapidly evolving.
Private Banking and Wealth Management Teams are offering all kinds of exciting financial and portfolio management solutions for the long term.
Hence, managing the risks of such transactions requires new paradigms.
For e.g. I was speaking to a Wealth Manager at a conference a few years back!
He told me that even Aged Cigars and certain Alcoholic Products such as Cognac, Wine, and Champagne, etc. It is a great investment, as their value augments, as time passes by!
Read 11 tweets
20 Jul
The impacts of exchange rate volatility on the monetary base has different scenario-based outcomes.
NFA and NDA both can increase and decrease with currency appreciation and depreciation over time.
It might become difficult for the central bank to mop up excess liquidity.
NFAs are Net Foreign Assets(foreign denominated balances) and NDAs(domestic currency denominated balances) are Net Domestic Assets.
That is how most central banks like to categorize the two components of the money supply.
It further breaks down into M1, M2, M3 and so on, etc.
Going back to the basics of Fixed Income Economics and Portfolio Investments aka Bond Markets, we need to understand, the liquidity preference theory, preferred habit theory, and market segmentation theory, to extrapolate yields & risk expectation formations across the rate-curve
Read 6 tweets

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