Sweden was the world’s third-richest country in 1968 but became a massive welfare state in the 1970s and 1980s and a prototype for how not to run an economy. It slid to No. 17 in the global income rankings and experienced a deep financial and real estate crisis in 1991, according to a 2012 study from the Research Institute of Industrial Economics. To its enormous credit, Sweden reversed course with consummate skill and political courage; it has become a paragon of sensible economic and social policy.
Posted on: Sat, 13 Sep 2014 09:19:32 +0000
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