Why do some microstates, especially those in Europe, tend to be immensely wealthy? e.g. Monaco, Singapore, San Marino

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Why do some microstates, especially those in Europe, tend to be immensely wealthy? e.g. Monaco, Singapore, San Marino

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Anonymous 0 Comments

I think selection bias plays a significant part. A small, poor area wouldn’t do well on its own. But a small area that’s wealthy and powerful enough would have both the means and motive to separate from larger surrounding countries.

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