In the United States, over the past decades, we have experienced growing income inequality and the undermining of our once stable middle class. Because our winner-take-all form of capitalism has been so destructive, and so corrupting of our politicians and our government, it may be time to explore other options. The more humane and economically successful capitalist models found in the Nordic countries\u2014Finland, Norway, Iceland, Denmark and Sweden\u2014could be a viable alternative to what we have now.<\/p>\n
In the World Economic Forum\u2019s global competitiveness index,<\/a> the Nordic countries are almost always found at or near the top.\u00a0The \u00a0Organization for Economic Co-operation and Development\u2019s (OECD) Better Life Index,<\/a> which takes into account broader indicators such as income, environment, health, jobs, work\/life balance, community, and life satisfaction, ranks the Nordic countries among the top ten \u201chappiest\u201d countries. So what are they doing right?<\/p>\n Are the Nordic countries socialist?<\/strong><\/p>\n I\u2019ve often thought of the Nordic countries as some kind of hybrid of socialism and capitalism, but, it turns out, they are not particularly leftist or interested in socializing their economies. Their reality is more complicated. According to a World Economic Forum<\/a> publication,\u00a0a combination of extreme individualism, a strong welfare state, adherence to the rule of law, low levels of corruption, gender equality, and broad social trust have shaped the successful market economies of Northern Europe.<\/p>\n