Scotland’s population is similar to that of Norway and Denmark, both countries in the International Monetary Fund’s list of the top 10 richest in the world. So when Nicola Sturgeon says there is no reason why an independent Scotland could not make it on its own after independence, she is absolutely right.
All the evidence suggests size really doesn’t matter when it comes to economic success. What does matter is having strong institutions, the right mix of human and physical capital, and sound management of the economy. In their different ways, Singapore, Switzerland and Sweden all have these, which is why they score highly on living standards, educational attainment and longevity.
If the polls are right, there are plenty of Scots who think that if the Danes and the Swedes can make a decent fist of running their own affairs then so can they. This makes Thursday’s election for the Scottish parliament fascinating. The mayoral elections in London and the West Midlands matter: the test of public opinion in Scotland really matters.
Sturgeon is a cautious politician and will be in…
