Why "neo-liberal Sweden" is among the most economically wealthiest and equal nations
Photo by Adam Galvák via Unsplash
I usually say that there is not a single week or month in Sweden without someone, usually from the political left, writing that Sweden is horrible, unequal, and “destroyed” by neo-liberalism. Also, I typically write that among the problems with criticizing Sweden for being neo-liberal are some of the following facts and insights:
- Sweden has more than 400 government institutions and agencies
- The welfare state is mainly beneficial for the middle-class citizens
- Government spending is among the highest ones in the EU
However, it is true that Sweden, since the 1990s, has been influenced, developed, and shaped by LPG (liberalization, privatization, globalization) policies and decision-making. Just as Finland and other Nordic countries, Sweden is among the most open, globalized and deregulated economices in the world.
In his recent article, Mattias Svensson, one of my favorite opinion-makers in the debate who often presents himself with a neo-liberal and classical-liberal profile, writes that Sweden is more economically equal today than compared to 20 years ago.
Svensson points out that during the 2000s, the quality of life improved in Sweden because more people became employed and found a job, wages went up, and entrepreneurship increased. Swedes, in general, have more money to spend today than 20 years ago, and more jobs were created by, for example, lower taxation of capital income.
According to Svensson, the Swedish economy has its problem and needs more reforms, especially when it comes to the labor market, housing market, and monetary policy. However, the global trend of increased public spending, trade obstacles, and bad regulations are not making things easier.
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