I don't know much about the details of Singapore or Scandinavia. I have seen people providing contradictory evidence regarding Scandinavia though. I agree that the 'classic' 'debate' that goes on forever about how 'pure' capitalism (that has never existed) is the best solution and how alternatives 'are just communism or similar' is absurd - it's possibly one of the biggest wastes of human energy ever!
Some of the issues here are the same as are faced in all public debates - namely, that most people haven't yet learned to apply logic in an open minded way without denial being involved. As long as denial creeps into the process, the outcomes are delusional, yet convincing to those who deny things. I feel at the core of the cause of this is a set of judgements that are taken to be facts, when they are not. These include such ideas as 'things can never be perfect' and 'i've just got to take whatever i can to survive and try to be happy'. Humans have never known or felt real peace and so are heavily imprinted to compete, also struggling under the weight of scars of having been abused and abusive. Until we heal our emotions and spirit in the deepest ways, as individuals, we will continue to go round in circles and history will repeat while we call it only 'revolutionary'. :/
I readily agree with your characterization of the debate as "possibly one of the biggest wastes of human energy ever!"
To say the least!