Viking Economics: How the Scandinavians Got It Right-and How We Can, Too
In America, many Democrats invoke Scandinavia as a promised land of equality, while most Republicans fear it as a hotbed of liberty-threatening socialism. But the left and right can usually agree on one thing: that the ...more
(and 100 percent renewable energy) ...more
"In Norway, you have the freedom to fail without becoming a failure." 9
"The crime rate is very low, partly because societies with high equality tend to experience less crime." 9
"Borrowing a 1995 Dutch concept called "flexicurity" the ...more
1. High level of employment, which together with
2. High level of taxation, provides money for
3. High level of services for everyone, including universal health care, free childcare and parental leave, subsidised transport ...more
1. The framing device (i.e. "vikings!") gets tiresome really quick, and is just distracting.
2. Too little attention is paid to the differences in political institutions between Nordic countries and places like the US/UK. It's discussed some, obviously, but there's little discussion of, for example, the fact that American political institutions are loaded with veto points, which was always going to make it harder to ...more
Is the Nordic approach truly that hard to scale? Considering just two of the core variables that drive productivity, you want all citizens to be healthy and educated. This is where you should allocate your funds and reduce barriers. Also agreeable on left and right, I would hope.
As for style of the book, a bit more empirical work would have served me well.
Is this is your first time hearing about the Nordic Model at all, it will probably be informative, but don't expect it to paint a complete pictures on the nuances and tradeoffs of policy. ...more
I'm not just saying this because I happened to have the pleasure of working with the author on another book some years back, but because this book really has a lot of important new ...more
What is so interesting about this book is just how possible it seems putting in place an economic system like this ...more
As the book shows, it wasn't always like this. Th ...more
Lakey's recommendations for the US seem naive and somewhat "pie in the sky". He d ...more
I was fortunate to briefly visit Denmark, Sweden and Norway in 2019 and I was impressed by what I experienced. Kudos to them and the happy people we met.
These long-lived people have a cost per capita for health care of a little more ...more
The 2016 book “Viking Economics” by George Lakey should dispel that arrogance and unwillingness to learn. East to read and using firsthand knowledge and wide research (36 pages of notes), Lakey's book shows that economic practices in Scandinavian countries should be considered in the U.S. bec ...more
On any measure of economic performance the economies of the so called “socialist” Scandinavian countries, (Demark, Iceland, Norway & Sweden), match or outperform those of the hard capitalist countries of the Anglosphere. For example, according to the World Bank the countries rank between 8th (Norway) and 17th (Sweden) by the average income per person adjusted for purchase price parity. (This list is a little polluted...more
Finally that main metaphor of Viking is flat, annoying, undeveloped and Unnecessary. ...more