The mouse that prospers: Why is it that small countries are usually more successful than big ones?

I suppose it is because everyone knows what is going on and consequently there is more accountability and efficiency. Take the Isle of Man, which was profiled in the FT recently. The country has had 29 years of continuous economic growth. It’s the 8th richest country in the world, ahead of the UK. It has a comprehensive welfare state for its 85,000 people. During the crisis the UK cut off its customs revenue sharing with Mann so the Manx are balancing their budget entirely on local revenues from the 10% corporate profit tax on banks, property companies and retailers, and a 20% personal income tax capped at £120,000/person.

How does one invest in Mann? Manx Telecom, recently listed in London. MANX. 162.50p. P/E: 500x. Market Cap: £183 million. Revenues £76 million.