Pretty much. Sweden was almost destroyed by socialists in the 1970-80s, which culminated in 1990..1994 crisis, and they only got back on track when they rolled back the most insane economic initiatives of previous governments. They sharply reduced public spending and significantly deregulated the economy, which allowed them to recover. But now, public spending creeps back up again, and the outcome is unlikely to be different this time.

Also, if you wonder why so few big unicorn companies appear in Europe, look no further than their tax policies.

Mm yes, billionaires per capita is the only metric that matters.