4 ms·
It's a scale obviously, and usually the more free markets are, and the less the tax take is, the more successful countries tend to be. Even with authoritarian
by cloutchaser 4y ago
It's a scale obviously, and usually the more free markets are, and the less the tax take is, the more successful countries tend to be.
Even with authoritarian leaders. Singapore being a good example.
It's just that authoritarian leaders rarely tolerate free markets.
- bigfudge 4y agoIs that actually true? Germany and scandi countries seem like major outliers. I’d guess that corruption and presence of good institutions are as important as tax % but would be interested in data either way.
- cloutchaser 4y agoThey outsource their innovation to freer countries. Germany is basically an industrial powerhouse but they are optimizing things, not innovating. Without the US the standard of living would be much lower for these countries and the rest of the world. No smartphones for a start.
- bigfudge 4y agoI think that’s hard to know. Nobody is ‘inventing’ smartphones except US, but there are substantial barriers to entry for non US manufacturers… language if nothing else. Also there is a massive network effect benefit by being just-first. My hunch is that if the US didn’t exist someone else would be doing this.