InvestNow News – 20th Dec 19 – Elevation Capital Presents: Investing in Switzerland
This recent New York Times op-ed, published 2nd Nov 2019, succinctly summarises Switzerland’s economic and social success.
The Happy, Healthy Capitalists of Switzerland
Forget Scandinavia. Switzerland is richer and yet has a surprisingly equal wealth distribution.
Ruchir Sharma – an author, global investor and contributing opinion writer.
Like many progressive intellectuals, Bernie Sanders traces his vision of economic paradise not to socialist dictatorships like Venezuela but to their distant cousins in Scandinavia, which are just as wealthy and democratic as the United States but have more equitable distributions of wealth, as well as affordable health care and free college for all.
There is, however, a country far richer and just as fair as any in the Scandinavian trio of Sweden, Denmark and Norway. But no one talks about it.
This $700 billion European economy is among the world’s 20 largest, significantly bigger than any in Scandinavia. It delivers welfare benefits as comprehensive as Scandinavia’s but with lighter taxes, smaller government, and a more open and stable economy. Steady growth recently made it the second richest nation in the world, after Luxembourg, with an average income of $84,000, or $20,000 more than the Scandinavian average. Money is not the final measure of success, but surveys also rank this nation as one of the world’s 10 happiest.
This less socialist but more successful utopia is Switzerland.