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Perspectives on the Performance of the Continental Economies$
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Edmund S. Phelps and Hans-Werner Sinn

Print publication date: 2011

Print ISBN-13: 9780262015318

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015318.001.0001

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Revisiting the Nordic Model: Evidence on Recent Macroeconomic Performance

Revisiting the Nordic Model: Evidence on Recent Macroeconomic Performance

Chapter:
(p.387) 12 Revisiting the Nordic Model: Evidence on Recent Macroeconomic Performance
Source:
Perspectives on the Performance of the Continental Economies
Author(s):

Jeffrey D. Sachs

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262015318.003.0012

This chapter examines the economic and political performance of three groups of high-income countries—Nordic, European continental, and English-speaking countries—with vastly different systems of social protection. It shows that highly ideological claims made against the social welfare states of Scandinavia are simply off the mark. The “euro-pessimism” in many parts of continental Europe, and the claim that Anglo-Saxon liberalization is crucial to economic well-being, is belied by the persistent high performance of the Nordic economies.

Keywords:   economic performance, political performance, high-income countries, Nordic countries, social welfare system, welfare state

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