Singapore's Polo Boom

Moneybox
A blog about business and economics.
Sept. 27 2013 9:50 AM

Singapore's Polo Boom

180523613
Indian polo players compete in the Chief Minister's Polo Cup final at Bison Polo Grounds in Secunderabad, the twin city of Hyderabad on September 14, 2013.

Photo by NOAH SEELAM/AFP/Getty Images

Jeremy Grant reports that the sport of polo is booming in Sinagapore:

Membership at the Singapore club, founded in 1886 and one of the oldest in Asia, has swollen to 1,600, up from only 100 two decades ago. Together these members own 126 horses, more than double the number in 2010.
Polo is just one example of the tiny city state’s rising wealth. It has the second-highest number of millionaire’s per capita in the world, after Monaco. About one in every 30 Singaporeans is a US dollar millionaire, according to WealthInsight, a research company.
Advertisement

There's only so much a giant country like the United States of America can learn from a very small one like Singapore. But I do think the way that Singapore has not only caught up to western living standards but largely surpassed them is an important antidote to certain kinds of techno-pessimism and defeatism about the world. With good policies in place, people can accumulate tons and tons and tons of wealth. And unlike Singapore, the United States has tons of useful natural resources and abundant land and political democracy. Historically we've been a lot richer and frankly we ought to be richer. But we're not.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

TODAY IN SLATE

The Slatest

Ben Bradlee Dead at 93

The legendary Washington Post editor presided over the paper’s Watergate coverage.

The Congressional Republican Digging Through Scientists’ Grant Proposals

Renée Zellweger’s New Face Is Too Real

Sleater-Kinney Was Once America’s Best Rock Band

Can it be again?

Whole Foods Is Desperate for Customers to Feel Warm and Fuzzy Again

The XX Factor

I’m 25. I Have $250.03.

My doctors want me to freeze my eggs.

The XX Factor
Oct. 20 2014 6:17 PM I’m 25. I Have $250.03. My doctors want me to freeze my eggs.
Technocracy

Forget Oculus Rift

This $25 cardboard box turns your phone into an incredibly fun virtual reality experience.

George Tiller’s Murderer Threatens Another Abortion Provider, Claims Free Speech

Walmart Is Crushing the Rest of Corporate America in Adopting Solar Power

  News & Politics
The World
Oct. 21 2014 3:13 PM Why Countries Make Human Rights Pledges They Have No Intention of Honoring
  Business
Moneybox
Oct. 21 2014 5:57 PM Soda and Fries Have Lost Their Charm for Both Consumers and Investors
  Life
The Vault
Oct. 21 2014 2:23 PM A Data-Packed Map of American Immigration in 1903
  Double X
The XX Factor
Oct. 21 2014 3:03 PM Renée Zellweger’s New Face Is Too Real
  Slate Plus
Behind the Scenes
Oct. 21 2014 1:02 PM Where Are Slate Plus Members From? This Weird Cartogram Explains. A weird-looking cartogram of Slate Plus memberships by state.
  Arts
Brow Beat
Oct. 21 2014 1:47 PM The Best Way to Fry an Egg
  Technology
Technology
Oct. 21 2014 5:38 PM Justified Paranoia Citizenfour offers a look into the mind of Edward Snowden.
  Health & Science
Climate Desk
Oct. 21 2014 11:53 AM Taking Research for Granted Texas Republican Lamar Smith continues his crusade against independence in science.
  Sports
Sports Nut
Oct. 20 2014 5:09 PM Keepaway, on Three. Ready—Break! On his record-breaking touchdown pass, Peyton Manning couldn’t even leave the celebration to chance.