Friday, 20 March 2015

Sweden - Socialist Paradise?

Does Sweden owe its wealth to the Welfare State?

There are two sides to every story. For the Swedish economic model its only one side that gets told in the mainstream, that of a Utopian Socialist Welfare State, one in which the whole world should look at to copy. The reality is somewhat different. Classical Liberalism (free markets and liberty) bestowed the wealth that we see today in Sweeden, not just Sweeden but many other Scandinavian countries. The post war era marked a rapid departure from this with welfare spending rising further, which slowly led to various financial crisis. Through the 19th Century Sweeden came for a modest European country in terms of wealth to one of the top three. It even once had Lower taxes than America. In  recent years Sweeden has begun turning its back on Government spending as the wealth well has dried up.