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Yes, but again, you can’t have a capitalist economy with a government that wants to control your every move and the way you think.

Singapore has done pretty well, and they're definitely a democracy in name only. More of a "benevolent dictatorship". I suppose the Singaporean government doesn't try to control "your every move and way you think" but they do crack down hard on people that criticize the government in a substantial manner. A city-state probably has a much different kind of ruler-ruled relationship than one of the largest countries on the planet, though.

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