When Singapore, a former British colony, gained independence in 1965, its standard of living (measured by real gross domestic product per capita) was less than a quarter of that of the United States. By 2018, its standard of living was more than 20% higher than that of the United States. Over the period from 1965 to 2018, living standards rose by a factor of 13.6 for the average Singaporean and by a factor of 2.6 for the average American. Such economic transforma- tion came about as technological diffusion catapulted Singapore into catch-up growth, averaging 4.8%, while the United States grew on average at 1.8% over this period. The economic forces of convergence mean that even as Singapore becomes richer, its growth rate falls more in line with the pace of growth of today’s developed economies.