Sweden is everything but a socialist paradise
Matthew Lesh writes for CityAM
Harrison Griffiths writes for CapX
“Anyone naïve enough to have engaged in debate with online socialists will be familiar with this kind of refrain. The idea that the Nordic countries are all run along collectivist lines appears remarkably sticky, despite the ample evidence to the contrary.
“Sweden was stuck in a vicious cycle of inflation, debt, and currency devaluations which lasted well into the early 1990s. During that period interest rates peaked at 500%, real wages were stagnant, and government debt became unsustainable.
“So next time you hear a leftwinger proposing to raise taxes on business, increase red tape and nationalise industry, don’t let them get away with pretending to emulate the Swedish model. Sweden tried those policies and they failed. Nowadays it is a very much a market economy – one which pays its way without relying on the mythical cash cow known as ‘the 1%’.”
You can read the full article here.