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The Nordic Model And Welfare State

Author

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  • Viktor Viljevac

    (University of Zagreb)

Abstract

This paper analyses the Nordic model and functioning of the welfare state in the Nordic countries. The so-called „Middle Way“ between capitalism and socialism is successfully sustained in the Nordic countries albeit multiple pressures and challenges due to globalisation. The paper analyses and compares levels of economic development and citizen welfare measured by monetary and non-monetary indicators in Denmark, Finland, Norway and Sweden. Furthermore, these four countries are compared with the remainder of EU-28. Core ideas behind the Nordic model are analysed afterwards, as well as the crisis of the welfare state and the Nordic model during the rise of globalisation along with the subsequent reaffirmation of the Nordic model after the onset of the Great Recession. Analysis of macroeconomic data and review of the existing literature lead to the conclusion that it is possible to combine a high degree of state intervention in market outcomes with a high level of economic development and efficient functioning of the free market economy.

Suggested Citation

  • Viktor Viljevac, 2020. "The Nordic Model And Welfare State," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 29(1), pages 307-324, june.
    • Handle: RePEc:avo:emipdu:v:29:y:2020:i:1:p:307-324
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    File URL: https://hrcak.srce.hr/clanak/347763
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    Citations

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    Cited by:

    1. Chiara Certomà & Filippo Corsini & Marina Di Giacomo & Marco Guerrazzi, 2023. "Beyond Income and Inequality: The Role of Socio-political Factors for Alleviating Energy Poverty in Europe," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 169(1), pages 167-208, September.

    More about this item

    Keywords

    Nordic model; welfare state; Nordic countries;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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