Lessons from Sweden

C Fred Bergsten suggests that Obama could get some lessons from Sweden when he visits there next week. His piece emphasizes the market orientation of Sweden's government. While the country has definitely rolled back some of its social welfare state over the last quarter century, readers could be misled by some of the items in Bergsten's column.

For example, Bergsten tells readers:

"Swedish social security became a true insurance system, rather than a pay-as-you-go one with huge unfunded liab...