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.

With HOPE

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