Economy

Here you will find all the content related to the category 'economy'.

Will the welfare services of Denmark, Finland, Norway & Sweden weather the economic crisis resulting from covid-19? Photo: distinctive Norwegian coin, Børge Sandnes, colourbox.dk.

2020.05.11 | Outlook, Ilkka Kärrylä, Public policy, Economy

Nordic public debt: the dangers of restricting public spending due to the covid-19 crisis

The prevailing economic doctrine in the Nordics and Europe has it that, the lower the public debt, the more room there is for economic stimulation in downturns, such as the current covid-19 crisis. Denmark, Norway and Sweden with their comparatively low levels of public debt were able to announce relatively large economic crisis packages fairly…

Ship and habour workers in Kaskö harbour in the 1920s. Photo: finna.fi, CC BY 4.0.

2020.04.16 | Outlook, Sami M Outinen, Public policy, Economy

The Nordic response to the Great Depression – an economic approach to the Corona crisis?

A look back at how Sweden and Finland dealt with two key crises in the twentieth century may be enlightening during the current Corona crisis. Firstly, the depression in 1930s, which led to Keynesian interventionalism - with some key differences - brought with it a series of steps throughout the following decades in both countries. Secondly, the…

Despite previous moves for economic integration in the Nordics, it became especially vigorous once globalisation took hold, particularly from 1990s. Photo: Calvin Hanson, Unsplash.

2019.08.27 | The Quick Read, Susanna Fellman, Economy, Region-building

The Nordic countries and economic integration

As small, open economies, all the Nordic countries (Denmark, Finland, Island, Norway and Sweden) have been well integrated in the regional and international economy. There have been moves to further intra-Nordic integration, such as, the NORDEK project in 1960s and the establishment of Nordic companies. Each of the five countries has had differing…

Picture: Emigrants in Larsen's Square. Edvard Petersen, Public Domain (ARoS Aarhus Art Museum).

2019.07.17 | Article, Byron J. Nordstrom, Labour markets, Economy

Emigration in the Nordics: an overview since 1800s

Emigration has been a part of population mobility in the Nordic region for centuries. The numbers were generally very small until the mid-nineteenth century when a wide variety of 'push factors', such as limited farming opportunities, and 'pull factors', such as the promise of cheap or free land, led to mass migration from Norden. In the…

Important export products from Sweden today include iron and steel, precision equipment (bearings, radio and telephone parts and armaments), processed foods and motor vehicles. Photo: SPK ball bearings.

2019.06.13 | Article, Susanna Fellman, Economy

Economic development in the Nordic countries

The Nordic countries are today among the richest countries in the world measured by GDP per capita. These countries also come top in more or less every international comparison of competitiveness. This was not the case 150 years ago. In the mid-nineteenth century the Nordic economies lagged behind those of the leading industrialised nations. The…

The Oslo Stock Exchange, or 'Oslo Børs'. The financial and other markets were highly regulated in all the Nordic countries post-war, but this changed radically in the 1980s and 1990s. Photo: Colourbox.

2019.05.28 | The Quick Read, Susanna Fellman, Economy, Public policy

The 'Nordic model' of capitalism

The five Nordic countries (Denmark, Finland, Iceland, Norway and Sweden) are often characterised as being welfare capitalist, featuring a combination of free market activity and government intervention. However, the institutional frameworks and economic policy models have changed over time, and the ‘model’ used has varied between countries and…

2019.02.25 | Article, Eric S. Einhorn, Economy

Overview of taxation in the Nordics

Tax policy is a core instrument of public policy in the Nordic countries. Whilst popular media often criticise the high taxes in Nordic countries, the public generally recognises that taxes provide necessary support to essential services. They know that to ‘slash’ taxes also means slashing healthcare, education, social security, and numerous other…

Rudolf Meidner (1914-2005), the Swedish economist. Photo: The Internet archive taken from his 1978 book Employee Investment Funds An Approach To Collective Capital Formation.

2019.02.21 | The Quick Read, John Logue, Economy, Democracy

Wage earner funds in Sweden, 1960s & 70s

The term wage earner fund refers to different models of redistributing profit amongst workers of individual employers or sectors. It is often characterised by the 1975 Meidner’s model which set out that new stocks issued could be paid to funds, which would be administered by a group of directors with advice from trade unions.