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At the top of global league table

Norway tops the lists of the latest UN Human Development Report in regards to quality of life and standard living indicators. The other nordic countries Iceland, Finland, Sweden and Denmark are also showing a strong performance.

15/02/2006 :: This and other recently published reports ranks Norway and the other Nordic countries high when it comes to issues like competitiveness, gender equality, high-speed internet access and media independence. The five states distinguish themselves compared to the other European Union countries.

This inspite having the highest taxes, most generous welfare systems and the most stringent labour and environmental laws in the world. Economists and politicians identify the reason to be that the countries can afford social safety nets and at the same time maintain fiscal probity and holding back inflation. Also a transparent and open government which is dedicated to the public good, contributes to the willingness of the people to pay higher taxes.

Now, a debate whether the formula can be used as a model to the rest of the world is arising. This entails that other countries must adopt to the “Stockholm Consensus”, in which a strong state underpins an open market economy, something experts find not likely to happen in near future.

Source: UPI.

 

 

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