Point of View: The Nordic Model of Capitalism

Richard Milne and Andrew Ward – FT – “The model of capitalism practised in Sweden, Norway, Denmark and Finland is seen by some as one of the few winners of the current economic and financial crisis. From its response to a previous banking crisis to its promotion of women in the boardroom, the Nordic model is piquing interest around the world in the same way as the Japanese style of capitalism did in the 1980s or the Germans’ in the 1960s…Economic data show that Nordic countries have so far fared little better, and in some cases worse, than the US and UK during the current downturn. Nordic manufacturers have cut jobs as aggressively as rivals elsewhere, driving unemployment to more than 9 per cent in Sweden and Finland.”

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