A musing, no more

Just a thought:

In fact, Stockholm is something of a unicorn factory, producing the second-highest number of billion-dollar tech companies per capita after Silicon Valley. In Sweden overall, there are 20 startups per 1,000 employees, compared to just five in the United States, according to data from the OECD. In the 2018 Bloomberg Innovation Index, Sweden tops the list, second only to South Korea.

Income taxation is so viciously high that the only way to make enough to get out is to start up a business?

Actually, it’s probably that capital gains and corporate taxation are significantly lower than labour income taxation. The same point but with a different gloss perhaps. But an interesting illumination of Spud’s point that income and capital tax rates should be the same, no?

9 comments on “A musing, no more

  1. Well, she’s writing at CapX, where I also write, and she’s using two – not just the one – of may articles at CapX as evidential back up. This hardly counts as that damning with faint praise from the other side which is the purpose of vainglory.

  2. Sweden tops the list, second only to South Korea.

    Captain Potato demonstrates his skill with numbers.

  3. @TMB – ha! You beat me to it.

    Based on my experience of South Korea, I am surprised it is top of the Bloomberg innovation list. There is a strong possibility that the list is bullshit of course, like those lists which claim Melbourne or Vancouver are the best places to live.

    OTOH, if Bloomberg is correct, then I suggest the secrets to innovation are a rigid education system, an extremely traditional patriarchal society, zero diversity and a hard-drinking macho culture.

  4. Vancouver is actually not a bad place to live, weather isn’t that bad either despite what some think, can’t speak for Melbourne though

  5. South Korea made Bloomberg’s list because the kid writing it owns a Samsung Galaxy, nothing more.

  6. Recently watched Johan Norbergs ‘Sweden, Lessons for America on YouTube, and three thoughts may apply:

    1. School voucher system seems to lead to kids selecting education path that interests themselves – logically that would in turn lead to more entrepreneurs.
    2. History of family-owned businesses.
    3. Draconian labor laws whereby ‘last-in-first-out’ applies to layoffs – that’s incentive enough to start your own business.

    Henry

  7. Vancouver is actually not a bad place to live

    If you own your property, yes. Otherwise it’s the San Francisco of Canada regarding property costs. Great skiing nearby though, with Whistler just over an hour away and a couple of smaller resorts literally overlooking the city.

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