Tuesday, 30 August 2011

Small Is Beautiful

Size matters: 50% of differences in growth over the last thirty years in western Europe can be attributed to differences in country size;

Welsh people would be around 39% richer, and the Welsh economy would have grown by 2.5% a year had Wales achieved independence around the time of the fall of the Berlin Wall and followed a similar pattern to other small nations;

Small is richer: being small doesn't hamper a country's prosperity - in fact there is a 'small country bonus' amongst the EU's member states, with smaller countries growing at a more rapid pace;

Smaller countries are frequently the fastest to recover from recession;

Four key factors make small nations economically successful - openness to trade; social cohesion; adaptability; the EU's flotilla-like structure

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