According to The Wall Street Journal The country is undergoing one of the most remarkable market transformations in Europe.
According to the publication, in recent decades Sweden has significantly reduced the tax burden on business and capital, privatized some public services and created a more favorable environment for entrepreneurship and technology companies.
Today, the country has more registered dollar billionaires per capita than the U.S., and Stockholm has become one of the largest European centers for technology startups. It is in Sweden that companies such as Spotify, Klarna and Skype have emerged.
At the same time, the state retains a large-scale system of social support, free education and developed infrastructure. As WSJ notes, the Swedish model increasingly combines elements of the free market with strong social institutions.
An example for Europe
The Swedish experience is attracting the attention of European politicians and businesses against the backdrop of slowing economic growth in the EU and increased competition from the US and China.
In fact, it is an attempt to combine high social protection with a more aggressive model of economic growth focused on innovation, investment and private sector development.
For Europe, this is particularly relevant in the context of rising defense spending, energy transition and digitalization of the economy.
