Sweden's Nose Dive Continues
A whilst back, I commented on how Sweden and other Scandinavian countries were being held up as role models of socialism for us to follow. At the time, I commented

the crime rate exceeds that of New York City, Violent outdoor muggings continue to increase at an alarming rate (15% last year), drug abuse is out of control with a doubling of the number of overdose deaths in the last 10 years and finally, the incidince of rape is one of the highest in the world.

Verum Serum has some economic data that is a good indication that highly socialist Sweden's economy has lost all the momentum and efficiency gained from it's more capitalist past. Quota a Jonah Nordberg article

Sweden was rich: In 1970 it had the fourth-highest per-capita income in the world, according to OECD statistics. But at this stage the Social Democrats began to radicalize, with coffers filled by big business and heads filled with ideas from an international leftist trend. Social assistance was expanded and the labor market became heavily regulated. Public spending almost doubled between 1960 and 1980, rising from 31 percent to 60 percent of GDP.By 2000, Sweden had fallen to 14th in the OECD’s ranking of per-capita income. If Sweden were a state in the United States, it would now be the fifth poorest.

Other problems include huge absenteism, and lack of effort at work with sick pay consuming 16% of government expenditure.

It is clear, the socialist model breeds laziness and innefficency, not effort and innovation. It may be able to leap briefly off the back of a successful capitalistic economy, but ultimately, the lack of work ethic destroys socialism from the inside. Add in the aging population (The CIA fact book places their fertility rate at 1.66, well below replacement levels) and you have a recipe for societal disaster.

Verum serum also has some links to Magic Stats and an old New York Times article on the same topic which are worth following.
- posted by Alan Grey @ Tuesday, August 01, 2006