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Denmark, 6 million wealthy people, 4% economic growth, 1.5% inflation, 2.9% unemployment, national debt of 25% of GDP and budget in surplus. How did it all go s
by gandalfian 1y ago
Denmark, 6 million wealthy people, 4% economic growth, 1.5% inflation, 2.9% unemployment, national debt of 25% of GDP and budget in surplus. How did it all go so right?
- anal_reactor 1y agoSensible immigration policies
- warunsl 1y agoAlso, one of the highest taxes.
- realo 1y agoSo what? Their model obviously works well.
- spicyusername 1y agoWhat are some examples of sensible immigration policies? How does the US compare / contrast?
- paulddraper 1y agoUS has highest immigration #s of any country. Canada is close in some respects.
- nradov 1y agoThe USA has the highest total number of immigrants but many other countries are higher on a percentage basis. https://worldpopulationreview.com/country-rankings/immigration-by-country https://worldpopulationreview.com/country-rankings/immigrati...
- Teever 1y agoCan you elaborate on your comment? What makes Canada's immigration policy sensible in your mind?
- _whiteCaps_ 1y agoI find that comment confusing because dissatisfaction with our immigration policy was a huge part of our recent election. It almost brought down the Liberal government.
- meowtimemania 1y agoI'm guessing the type of immigration each country receives is very different. e.g. some examples from this list (% immigrant population): - Qatar (76%) - Australia (30%) - Canada (23%) - Belgium (20%) - USA (15.2%) - Denmark (14.2%) https://en.wikipedia.org/wiki/List_of_sovereign_states_by_immigrant_and_emigrant_population https://en.wikipedia.org/wiki/List_of_sovereign_states_by_im...
- 2thumbsup 1y agoDenmark’s immigration policies are not nearly as tough as their reputation nor to credit them as the source of economic prosperity. Denmark’s economic prosperity comes from investment in free higher education for all, generally healthy lifestyles and the flexicurity-model, which provides a flexible labour market and promotes risk-taking.
- mardifoufs 1y agoWhich western countries have "stricter" immigration policies? Even the US now doesn't treat refugees like Denmark did a few years ago (mass, wholesale expulsion to a country that was still at war, with very little exceptions). I get the reasoning behind it but the Danes are not the most welcoming of peoples, with regards to immigration.
- enra 1y agoOzempic & Novo Nordisk contributes something like 2% of the economic growth.
- seydor 1y agothey were rich before ozempic
- micromacrofoot 1y agoskinny too
- deleted 1y ago[deleted]
- EVa5I7bHFq9mnYK 1y agoand tall
- nextos 1y agoActually, the Danish economy was a lot more interesting (read more complex and diverse) a decade or two decades ago. Lots of mid-sized engineering companies, for instance. The government is rightly worried about things becoming a Novo Nordisk monoculture, becoming fragile, and ending up like Finland. Novo Nordisk is facing tough competition from Eli Lilly and many other pharmas, who have better GLP-1 drugs but were slower in their development.
- joelthelion 1y agoAnd yet they all have to work like idiots until they're 70, whether they like it or not. I feel they could do better than that with all this wealth.
- droopyEyelids 1y agoThey’re not working like idiots, they have universal unionization and lots of time off.
- joelthelion 1y agoYou can have the best working conditions in the world, it still sucks to have to work if you don't want to.
- jhickok 1y agoWell yeah but then your problem is the fact you have to work at all. I doubt any modern societies have solved the issue of needing people to work.
- joelthelion 1y agoI get it but then we should be moving towards less mandatory work, not a 70 years old retirement age.
- copeharderL 1y ago[flagged]
- glorygut123 1y agoIf they're raising the retirement age, then it obviously didn't all go so right,
- neuroelectron 1y ago[flagged]
- NewsaHackO 1y agoHoly dog whistle
- neuroelectron 1y agoWhile 20% of their population is foreign and their birthrate is below replacement, this economic issue shows why it's a failure. Foreigners are too well integrated which prevents the kind of dynamism that is needed in all territories that boosts the economy. Britain should set the standard.
- account42 1y agoBritain is setting the standard alright - for what not to do if you value your society.
- neuroelectron 1y agoNo, that's just because of Brexit. Diversity alone is not a magic economic bullet.
- jopsen 1y agoI feel we've known this was coming years.. and it won't effect until 2040 -- this gives me confidence in the system. It's not an unfunded mandate running on deficit spending. So probably it won't be wiped away by a global monetary crisis that forces us to cut deficit spending and reduce pensions.
- 1y ago
- jampekka 1y ago> How did it all go so right? The highest total tax rate in the world perhaps?
- pembrook 1y agoThe USSR and Yugoslavia and Albania and Cuba and North Korea and Vietnam and China pre-2000s have all had far higher tax rates than Denmark during their worst times, so probably not a great correlation. Denmark is like all the other Nordic countries culturally, except they have much easier direct geographic lines to Central Europe. So it’s basically what you get when you combine the Nordic model (tiny homogenous Lutheran population) with more advantageous geography. Finland is Denmark with extremely unfortunate geography.
- deleted 1y ago[deleted]
- jampekka 1y agoCuba, Vietnam and Albania have way lower tax-to-GDP than Denmark. They are way below OECD average. Care to share your tax statistics on USSR, Yugoslavia, North Korea and pre-2000s China? The Nordic model was created by socialist and labor movements in the 20th century. Finland, a tiny homogeneous Lutheran population, even had a brutal civil war over this. Nothing to do with religion or ethnicity.
- jq-r 1y agoBut it has all to do with corruption. Croatia has one of the world's highest tax burdens per 1000usd earned (or at least it had from a study done some years ago) and you would think that all is is great but this couldn't be further from the truth in reality. Corruption eats it all.
- pembrook 1y agoThe heydays of communism in those countries are long gone. Current tax-to-GDP stats are simply correctly reflecting those countries being poor and heavily black market driven. And it’s everything to do with religion and history, why do you think all the Nordic countries had these same 20th century movements and all have extremely similar governance approaches.
- bertili 1y agoDane here. It's not a coincidence that Scandinavian countries fare well in most stats. Most Danes point to a cultural bias towards very flat hierarchies in society and work life as the source of wealth, happiness and trust in each other.
- 4gotunameagain 1y agoHaving lived in Denmark for quite a while, I will say that it is the societal coherence, and an attitude of working together for all which must have been influenced with the difficulty of surviving in that landscape in the past. Societal coherence has been aided by the isolation, and here is the hot take: this cannot exist in "diverse" societies. Not because of bullshit genetic superiority justifications, but because no diverse society has so far demonstrated the capacity to have a shared purpose, coherence and high degrees of trust. And yes, I do find monoculture societies (including denmark) very boring, and I believe diversity has other great benefits. But societal stability and long term prosperity in that sense? Doesn't look like it. Before someone mentions the US as a counterexample, do not forget that all the prosperity of the US came from basically seizing an underutilised (in the industrial sense) resource rich continent, and now it is falling apart by internal divide.
- halfmatthalfcat 1y agoThe divide is a feature, not a bug. There’s a reason the US is called an experiment, with all the trials, tribulations, failures and successes that come with that. “We do things not because they are easy, but because they are hard.”
- 4gotunameagain 1y agoPortraying the largest conquest and ethnic cleansing of the Americas as a deliberate experiment to figure out multiculturalism leaves a bitter taste, I'm not gonna lie. And if you gave me a choice between a world divided in small Denmarks or between the contemporary re-armament of the west due to the election of a populist buffoon combined with decades of mismanagement of a unipolar world, I wouldn't think twice.
- halfmatthalfcat 1y agoEvery culture has sins and skeletons. That’s not to absolve them but if we’re comparing contemporary national cultures, their stability and demographic makeup, it’s obviously a spectrum of stability, progress, etc.
- trizuz 1y ago[dead]