Balancing National Security and Economic Development through Authoritarian Capitalism: A Study of Singapore and its Narratives

Authoritarian capitalism has emerged as a prominent political and economic model since World War II, particularly in developing nations, yet its sustainability still remains uncertain. This paper defines authoritarian capitalism as a system in which authoritarian governance coexists with capitalist practices, often marked by state-led initiatives and the suppression of civil liberties. While some countries, such as China and Russia, exemplify this model, Singapore stands out as an atypical case that has successfully balanced national security and economic development over several decades. The narrative constructed by Singapore's ruling elites promotes the view that authoritarian governance is essential for prosperity and stability, and this narrative resonates with the strict social norms that prevail in the country. Drawing on cultural theories, this study examines how Singapore's societal expectations align with its model of governance and explores the psychological mechanisms that support this alignment. Ultimately, the findings emphasize the importance of narrative in legitimizing authoritarian practices and sustaining the interests of the ruling elite, contributing to the ongoing discourse on the viability of authoritarian capitalism in an evolving global landscape.