What Germany should learn from Sweden

Germany sees a growing number of millionaires as a problem. Sweden sees it as a sign that more people should be investing.

Dear Reader,

When the Boston Consulting Group released its annual Global Wealth Report last week, it set off a familiar debate in Germany about taxing the rich.

Across the political spectrum, newspapers focused on a single figure: there are now more than 5,000 “super rich” people living in Germany, defined as those with financial assets worth more than $1…