The Nordic Model

Photo: The Nordic Embassy in Berlin, Alfred Berger / artstor.org
  • The Nordic countries have the last 70 years combined social security and capitalistic dynamics in a unique way. This form of organising society is called the Nordic or Scandinavian model.
  • Characteristics include strong labour movements, strong business associations, large welfare states and recurring and centrally co-ordinated collective negotiations.
  • The Scandinavian countries display small wage gaps, universal welfare arrangements and commitment to full employment by governments.
  • The Nordic economies are small, open economies with economic growth similar to other capitalist countries. The Nordic model is thereby adapted to a system of free international trade, inter alia through centralised wage negotiations where margins in exporting sectors determine the wage growth in the economy as a whole.

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Kalle Moene on the Nordic Model at the Signal Conference 2013

 

 

 

Kalle Moene talks about the Nordic Model from a Norwegian perspective as a response to the Nobel Prize winner Professor Joseph Stiglitz' lecture on "Unconventional Economic Wisdom" at the Signal Conference 2013 organised by Innovation Norway.