According to the Global Competitiveness Report of the World Economic Forum, once again the Scandinavian countries are near the top of the list: after Finland, at the top of the ranking, came Sweden (3), Denmark (4), Iceland (7) and Norway (9) – all among the top ten most competitive economies.

These impressive rankings by the countries of northern Europe call into question the conventional wisdom, which says that high taxes and a comprehensive welfare system undermine competitiveness. In fact, it would seem that what matters most is not how high the tax burden is, but how efficiently government revenues are used.


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