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The Nordic countries went from being the fastest growing economies in the world pre-1960s, to laggard economies with stagnant growth rates, post 1960 after they
by ETH_start 3y ago
The Nordic countries went from being the fastest growing economies in the world pre-1960s, to laggard economies with stagnant growth rates, post 1960 after they adopted social democracy.
- wing-_-nuts 3y agoGdp isn't everything. Folks there seem to live an insanely high quality of life even adjusted for lower income
- ETH_start 3y agoQuality of life is extremely strongly correlated with per capita GDP. They already led the world in standard of living in 1967, at the end of their free-market/high-growth era.
- wing-_-nuts 3y agoBud, that was over 50 years ago and they still have the reputation as one of the best places on the planet to live and raise a family. They're clearly doing something right, and if you zoom out and look at the big picture, we're clearly doing something wrong.