Inclusive Growth and development--Why Scandinavian nations are leading? others not?
Above group of nations Norway, Sweden,Finland,Denmark,Switzerland. These North pole habit ants
are leading in human development, Economy,Philanthropy and many more.International ranking Norway stood first ,I heard there are no slums and education, health, welfare Government takes responsibility. Inclusive growth is most discussed item globally.These nations prosper and no hostile neighbor adjacent to them.
Yes they carry less liabilities comparing to others.They are inventive and innovative. They have presence in India, They help developing countries too.
We should search secret of success.
Scandanavian nations Like Sweden & Finland had virtually Zero job growth for almost 25 years. They nearly went bankrupt in the early 1990's. Since then they have reformed their labor market laws and made it more flexible for companies to hire and fire people based on production rather than place unrealistic restrictons on them like many of the EU nations have. The pro business environment has created a much more pro growth environment. That had alot to do with their turnaround in the last decade. Additionally they were not stupid enough to try to join the poorly designed monetary union that the EU created.
Switzerland is in Western Europe, it is not Scandinavian. That country is doing well because they are not part of the EU, but manage to rake in the benefits since it does have strong ties to the rest of Europe through bilateral agreements as well as the EC-Switzerland Free Trade Agreement of 1972. Plus they are smart enough to stay neutral. But they have much in common with Scandinavia with their government model.
Scandinavians have a strong work ethic, generous welfare benefits and the word hated by most of conservative America "redistribution of wealth". They take care of their citizens, who still manage to have abundant civil liberties and there are few restrictions on the flow of capital or of labor. Yea it can work!
There used to be major labor problems until the early 2000s. But their recovery is more a result of the way they addressed their banking crisis The exact opposite of what we are doing here in the US. Take your losses and move on. not propping'em up.
I actually agree with you on that I think when the crash came we should let it take its natural course, but of course we would have taken the planet with us, which I dont think would have been the worst thing in the world.
Good Piece written on the changes they made in the last decade.
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