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Gunnar Miller's avatar

Two of these are fairly oblivious:

European philanthropy dearth is likely high tax-rate fatigue. If people already expect their governments to spend their copious tax revenues on common services, many of them feel they're already tapped out. There's even a popular opinion that over-reliance on charity is the mark of a failed society. Recent attempts to start college alumni "development" efforts are cynically seen as bribery programes for graduates to grease the skids for their sub-standard kids to skip ahead in the admissions line.

On Silicon Valley fabs, it was an economic calculus: Cheaper land, power, and water, plus tax incentives in places like Arizona and Texas. Also, since line workers in fabs aren't paid as well as the executives, circuit designers, and venture capitalist wallahs, they can no longer afford live close to work.

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Jacopo's avatar

"Silvio Berlusconi’s governments in Italy drove reforms that moved much of the population from ‘defined benefit’ pensions to savings-focused ‘defined contribution’ pensions."

Actually, the reforms you are referring to were not implemented by Berlusconi's governments. These are the Dini reform (1995) and Fornero reform (2011, Monti government).

You may have confused them with the Sacconi reform (2010, Berlusconi government) which was a more straightforward increase of the pension age plus some tweaks at the margin.

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