Until, that is, they raise taxes and begin to indulge in government on a grand scale. Then their economies bog down. That was the history of Europe and North America. The explanation is simple. The main limit to economic progress is the scarcity of capital available to finance new methods and enterprises.
Capital comes from savings.
When taxes are lower, men can save more. So low taxes equal rapid economic progress. This is nothing new, really. Chiefly because it is a clarion call to seek your own interests, and most people are uncomfortable with that. Don t you be.