Here from Jeffrey D. Sachs, if countries are globally competitive they should be smart governments;
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What globalization requires, therefore, are smart government policies. Governments should promote high-quality education, to ensure that young people are prepared to face global competition. They should raise productivity by building modern infrastructure and promoting science and technology. And governments should cooperate globally to regulate those parts of the economy – notably finance and the environment – in which problems in one country can spill over to other parts of the world.
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The world’s most successful economies today are not in Asia, but in Scandinavia. By using high taxes to finance a high level of government services, these countries have balanced high prosperity with social justice and environmental sustainability. This is the key to well-being in today’s globalized economy. Perhaps more parts of the world – and especially the world’s young people – are beginning to recognize this new reality.That is right that is proven track record, but also these countries have highest suicide rate and suffer from alcoholism too! Wonder why? Probably too comfortable their existence they have no incentive go out work, thinking too much drinking too much.
