Friday, August 10, 2012
President Hollande, Friend of Monaco
In any event, it is an interesting contrast between France and Monaco. The two countries, simply by being so close together and having such a long history of close association, have a great deal in common. Yet, one is a (very republican) republic with very high taxes on the wealthy while the other is a monarchy (where the monarch still has the last word) with very low taxes for everyone and a more pro-investment environment. Students of economic systems could find a great deal to learn in studying these two very different systems in such close proximity and how each country prospers under the system they have.