- Regional factors are often more important than central macroeconomic policy and legislature of a state.
- Subsidies are of little use: have they helped to Eastern Germany or Southern Italy? Hardly.
- Some Italian provinces are better off than most of the UK.
- The much-acclaimed active employment policy of Sweden, Denmark and Finland is overrated.
- Germany is the economic driver of Europe, Bavaria is the driver of Germany, Munich is the driver of Bavaria.
- The wider Alpine region (including Southern Germany, Austria, Switzerland, and some North Italian provinces) is remarkably well-off.
I find this map fascinating:
It tells us a couple of important things:
Interestingly: It is much better for the health of an economy to pay rather than receive. Countries or regions that receive most subsidies don't do well: Eastern Germany, Southern Italy, Southern and Eastern Europe in general, etc. Subsidies are the road to hell.
A white male with some professional experience in finance and investing.