Keynes's "Grandchildren" essay famously predicted both a rapid increase in productivity and a sharp shrinkage of the workweek - to fifteen hours - over the century from 1930. Keynes was right (so far) about output per capita, but wrong about the workweek. The key reason is that he failed to...

The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.