The intelligence and character of a country’s people is also a major factor, which seems to be ignored in this otherwise interesting article. Exporting this model to a low average IQ country would be predictably unworkable.
As has been pointed out by others, Swedes in America are pretty darn prosperous. I would not be surprised if they are on average better off than those who stayed in the Old Country.
- Guess you're right.
However, the average level of intelligence concerning China, Gabon and India is comparatively low, yet these nations sure enjoy high GDP growth rates.
But what about character?
Maybe economic growth, on a wider scale like that of a whole nation, has more to do with certain traits involving economic sense and the “room” provided for individuality in that very society?
Take Ingvar Kamprad, founder and sole owner of IKEA. Early in his life, he got rather convinced that an academic career was out of the question in his case. Later on, in an interview, he claimed he probably would fail to impress if performing an IQ-test.
To me, this tells the story of a very original person, a gifted businessman who doesn't mind cutting his losses, is stubborn enough to follow his own mind and wholeheartedly devotes himself to one mission in life; doing what he is good at.
Still, entrepreneurs like Ingvar Kamprad, Bill Gates, Lars Magnus Ericsson (founder of Swedish telecom giant Ericsson) and Henry Ford are in need of a surrounding environment that welcomes business initiatives in order to launch fruitful business initiatives.
In this area most national governments have a lot to learn.