In Finland now, everything is all right. Fifteen years after one of the worst recessions any European country has seen, triggered by the collapse of the Soviet Union, the Finns feel very content. Their small country of a population of 5 million is the first in the World Economic Forum’s list of the world’s most competitive countries, and the second in its business-competitiveness index. It is also the first in the OECD’s world ranking of educational performance and has the second-highest share of research-and-development spending in the European Union. Moreover, the country is reversing its demographic decline and, hence, its fertility rate is one of the highest in Europe. Perhaps best of all the Finns are facing globalization without paranoia. Theirs is one of the few European countries to have succeeded in businesses in which international prices are falling because of global competition and technological change. In most of Europe public opinion and even business élites seem gloomily resigned to being overwhelmed by India and China. Finland suggests that this fate is not inevitable.