Per Bylund argues
Sweden's relatively successful survival through the recent financial crisis has nothing to do with propping up government, increasing welfare benefits, or nationalizing the private sector. It is a direct result of a purposeful and politically painful program over a period of more than 15 years to clean up the mess of almost a century of Krugmanite policies that were close to bankrupting the thousand-year-old nation.
The entire short analysis, and more RSE posts on Sweden, a country often referred to as proof of the success of Welfareism, Keynesianism and other conceptions of the good socialist society.
I just finished reading Mr. Bylund's fine article right before popping in to RSE. A good read. Sweden may just be a good socialist country in that it decided (or rather the markets decided for them) to eschew its Keynesian ways toward the benefit of its citizens.
Posted by: Eric Parks | 01/11/2011 at 11:35 AM