A special report from the Economist this week, titled, “Northern Lights,” examines the “quiet revolution” taking place in Nordic nations that has allowed for increased financial sustainability while encouraging innovation, creativity, and high levels of social mobility.
“The Nordic countries are reinventing their model of capitalism, says Adrian Wooldridge”
With Sweden’s public spending dropping by 18% and its debt reduced by 33% since 1993, Denmark’s policy allowing” parents to send children to private schools at public expense,” and Finland’s trend of engaging innovation and entrepreneurship by tapping into its venture capitalists and angel investors, there are some who are concerned that the Nordic countries have swung too far in the fiscally conservative direction. While others feel the move from the far left is the reason this area of the world is thriving.
Are Nordic counties finding a new balanced “Middle Way” between capitalism and socialism? Can this serve as an example of a more humane form of capitalism that the rest of the world can learn from and follow?
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