> High tech was only part of their
> revitalization. The main part of it was an amazing fiscal turn-around
> that they executed in the first half of the 90s, before the stock market
> took off . And which they showed can be pulled off without gutting the
> welfare state. So long as people are willing to pay taxes and trust the
> government to take the bulls by the horns.
>
Thanks for sending that article. Sweden's mid-90s model stabilized and, it seems, later shielded their economy on the downside while increasing housing and employment, in a very positive way. But, the 45,000 Ericsson job losses (and many others from the late 90's tech-led employment boom) and fact that 80% of the country owns Ericsson shares (trading at 54 cents) because Sweden force spread stock ownership are troubling. I just think this speculative building and investing (not just in Sweden) are a scary flipside to the higher taxes and socially geared government programs you mention.
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