The Nordic Model Rules

They have among the highest tax rates and most generous welfare systems in the developed world, but when it comes to international competitiveness, there's no beating Scandinavian countries. That's the conclusion of this year's annual global competitiveness survey by the World Economic Forum, which ranks countries according to economic dynamism, the quality of public institutions and technological prowess.

Finland once again topped the list (ahead of the U.S.), with Sweden in third place, Denmark at No. 4, Iceland No. 7 and Norway No. 9. "There is no evidence that [high tax rates] are undermining the level of competitiveness,"...

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