[quote=AN]I think we should adopt Sweden’s social safety net. I love what the Swedish get over there. Permanent unemployment, start out at 90% of your salary and plateau at at 60% and stay that way for the rest of your life. Add in free healthcare, free higher education, and it’s nirvana.[/quote]
You mean this Sweden?
Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a skilled labor force.
The Swedish economy emerged from the financial crisis as one of the strongest in Europe. A high-tech local economy and a comprehensive system of welfare benefits allow Sweden to enjoy one of the highest standards of living in the world. Sweden has one of the most globalized and competitive economies today.
From the early 1990s until 2008, Sweden enjoyed a sustained economic upswing fueled by strong exports and rising domestic demand. In the fourth quarter of 2008, Sweden entered a recession. Heavily dependent on exports of autos, telecommunications, construction equipment and other investment goods, Sweden was hard hit by the contraction in external demand due to the global financial and economic crisis.
As a result, GDP fell 4.9% in 2009. GDP is expected to increase by 4% in 2010 and by 3.7% in 2011. By mid-2011, GDP growth is projected to slow to 2007 “pre-crisis” levels, which would be around 3.4%.
The Swedish economy bounced back more quickly than other similar economies due to strong public sector finances and a reliable export-driven economy. Main Swedish exports include machinery and transport equipment, chemical and rubber products, food, clothing, textiles and furniture, and wood products. Exports and investments are rapidly increasing, and the Swedish export market is expected to grow by 8% each year through 2013.
