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The economy experienced a slowdown in 2005, but in 2006 recovered to the fastest pace in six years on the back of increased exports [52] and strong investment. The pace of job growth reached 10-year highs in 2007. The Netherlands is the fifth-most competitive economy in the world, according to the World Economic Forum's Global Competitiveness ...
The Dutch economy remained a high-real-wage and high-tax economy, which discouraged investment in labor-intensive pursuits. This caused a decline of labor-intensive industries, like the textile industry, and of capital-goods industries like shipbuilding (both suffering from a lack of innovation also, which made it even more difficult to conquer ...
As in the economy in general, there was a sharp break after 1672. Whereas the economy stagnated, expenditures in connection with the wars, and hence taxes too, rose. Taxes doubled by the 1690s, but nominal wages (as distinguished from real wages, which rose due to the general decline in price levels) remained constant.
A Satire of Tulip Mania by Jan Brueghel the Younger (c. 1640) depicts speculators as brainless monkeys in contemporary upper-class dress.In a commentary on the economic folly, one monkey urinates on the previously valuable plants, others appear in debtor's court and one is carried to the grave.
But in the Netherlands the depression started more gradually, in 1929–1931, while the economy had been in a gradual decline for a longer period. In the Netherlands the depression lasted significantly longer than in most countries, partly because of structural characteristics of the Dutch economy and partly because of the policy of the government.
Holland was founded by Dutch Americans and is in an area that has a large percentage of citizens of Dutch American heritage. It is home to Hope College and Western Theological Seminary, institutions of the Reformed Church in America. Holland's economy includes manufacturing, agriculture, tourism, and higher education.
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