Re:The Nobel Prize in Physics 2019
by willis936 on Tuesday October 08, 2019 @09:22AM
(#21191966)
They are doing well. As would almost any nation that had enormous wealth from being a tax haven. They profit off of the work of others, as any wealthy nation does today, but they go farther than others.
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That's not the reason they have "enormous wealth". I think Switzerland understood early on that it's important for them to invest in science, education and innovation because they don't have any other natural resources.
Incentivizing companies like Google to set up shop in Switzerland of course is related to the low taxes, but also access to talent with great technical schools (ETH, EPFL). Furthermore, companies know that people would love to relocate to Switzerland to work for them. This in turn leads to more money for research, academia and education in general. It's virtuous cylce.
Obviously, there are many more factors. And yes, maybe it helped that there was the bank secracy law and criminals and the Germans during WWII parked their money in Switzerland, but I would say that's not the determining factor.
Disclaimer: I'm Swiss, so probably biased.
Other WWII issues and ethics aside, it puts you ahead when other people wage war and you’re busy doing business. War was huge economic loss for the neighbours, and Switzerland was staying in peace.
Re:The Nobel Prize in Physics 2019
by joelbluminator on Tuesday October 08, 2019 @09:50AM
(#21192265)
I disagree. Switzerland produced real value; take a look at companies like Novartis or Roche (or even Nestle). Or the 30 Nobel prize winners, or the top notch academia they have there. You don't do all that just by being a tax haven (Malta and Cayman islands are tax havens as well, also Ireland, but neither is as successful). I have no connection to Switzerland, have only been there once, but when a society works - it works. I acknowledge that.