Bad example.

The East India company era had WAY less regulation all around, way lower taxes, less types of taxes, a very attractive simple investment climate (the literal founding of the concept "stock market", in its simplest and most primitive form) and close to 0 (illegal) immigration. They also had no euro, no socialist EU and no self-imposed limitations on energy conversion (there was no electricity, but wind was huge and allowed for mass production of stuff).