22 September 2017
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If you had to be reborn
anywhere, you would
want to be a Viking

The Nordic countries are inventing the new capitalism,
says the Economist editorial. The front of the magazine
shows a seemingly overweight, bearded Viking,
aptly titled "The Next Supermodel".

Politicians from other parts of the world could learn much of Scandinavia, the Economist writes in this weekend edition.

The Nordic countries are inventing the new capitalism, says the Economist editorial. The front of the magazine shows a seemingly overweight, bearded Viking, aptly titled "The Next Supermodel".

The four Nordic countries Sweden, Denmark, Finland and Norway do well on one international poll after another. They are often found on top of the tables in various rankings of competitiveness of purchasing power, and even happiness.

Norway, for example, has for several years been at the top in a UN ranking of the best countries to live in. The rating is calculated as part of the human development index (Human Development Index), which is an attempt to create a measure of how we are doing, that of the good life.

It encompasses not only economic indicators but also looks at health, education and income.

Politicians from other countries should learn from the Nordic model, says the Economist. It pertains to the heavily indebted countries such as in southern Europe.

The Nordic countries have managed to find solutions to reform their public sectors, so that the state is far more efficient and better able to adapt to new needs, says the Economist.

The Economist devotes a large part of its special report of 14 pages to the development in Sweden, which is reaping considerable praise. The Swedish public sector accounted for 67 percent of the country's gross domestic product (the sum of goods and services) in 1993, while the proportion has now fallen to 49 percent.

Sweden’s Finance Minister Anders Borg has also managed to present a state budget actually goes into balance.

Focus on the largest Nordic country is undoubtedly a feather in the cap of the conservative Prime Minister Fredrik Reinfeldt, who has gradually gained considerable authority also within the EU during the discussions on economic and political reforms.

Norway's unique position as a major energy exporter contributes to the country’s position slightly to the side of the three other Nordic countries. But also Norway has started to reform the public sector, says the Economist.


Category : Business, economy, investments / Featured black

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