That would be terrible for anyone living there, as would the environment, and the environment of every country around that country, etc.
Regulation = Civilization, Taxes = Civilization, Safety Net = Civilization
Now that doesn't mean you want a regulatory nightmare, the USA has real problems with license monopolies and city regs in some areas, but you also don't want unrestricted capitalism like the USA has that destroys people, society, and the common environment. Europe has a lot of work to do as well but at least they grasp this fundamental concept. The middle ground between these two is always hard to nail perfectly.
"Talent" seems to like that environment.