Saturday, June 25, 2011

Sweden: Poster Child for Successful Recovery

The People's Republic of Sweden presents us with a perfect example of a nation learning from their economic mistakes in crises past and implementing fixes from that learning.  The Washington Post has a great summary of 5 things Sweden learned.
The overarching lesson the Swedes offer is this: When you have a financial crisis, and Sweden had a nasty one in the early 1990s, learn from it. Don’t simply muddle through and hope that growth will eventually return. Rather, address the underlying causes of the crisis to create an economic and financial system that will be more resilient when bad times return.
Shocking, I know.  Learning from past experiences rather than implementing ideology "fixes" that do nothing but make the situation worse (austerity, anyone?) .

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