3 ms·
>> juice you can squeeze out of a shrinking workforce On the assumption that the economy is based on a workforce. An economy can be based on paper assets. An
by sandworm101 5y ago
>> juice you can squeeze out of a shrinking workforce
On the assumption that the economy is based on a workforce. An economy can be based on paper assets. An "innovation nation" that makes GDP out of intellectual property assets, banking and offshore investments could sustain itself without the need for an ever-growing labor force. SK isn't Luxembourg, but nor is it India.
https://en.wikipedia.org/wiki/Economy_of_Luxembourg https://en.wikipedia.org/wiki/Economy_of_Luxembourg
- luckylion 5y agoAs a tax haven, Luxembourg depends on France + Germany's tolerance for tax evasion though. Granted, it has worked out great for them, but it's not necessarily a long-term strategy.