Word: scandinavia
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Dates: during 1960-1969
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...much of the world, Scandinavia, rather than the U.S., represents the ideal of an economic Utopia. Sweden has the world's second highest per capita income; Denmark, Norway and Finland also rank high. All four are free of slums, hunger and extreme poverty. All enjoy steady economic growth combined with full employment. By contrast, the U.S. is beset by labor unrest, rising unemployment and slow growth. How do the Scandinavians do so much better...
...find out, TIME London Correspondent Lansing Lament toured Scandinavia for two weeks, talking with government, industry and labor leaders. "Other nations," he reports, "may be plagued by jolting strikes and shutdowns, but in Scandinavia relations between workers and employers remain remarkably serene. This tranquility between such traditionally adversary forces seems at times as magical as a Hans Christian Andersen fairy tale. It also happens to be the special glory of the Scandinavian economic system...
With minor variations, the same negotiating patterns prevail throughout Scandinavia. The harmony derives from a distinctively Scandinavian sense of selfdiscipline. Items...
Ragnar Frisch, who is widely regarded as the father of the modern planned economies of Scandinavia, believes that computers will soon help make planning popular in all countries. But he admits that models are far harder to build for rich, complex countries than for simpler economies. "Frisch and I started this work in the 1930s, in the days of the economic depression," says Jan Tinbergen. "We wanted to draw a plan to fight depression causes and keep unemployment under control." In recent years, Tinbergen has devoted all of his time to the problems of underdeveloped countries, where econometrics seems well...
...Palme helped steer the country from left-to right-hand traffic in 1967. According to his critics, that was the only time Olof has moved away from the left since he started shaving. Conservatives in his own country call him a renegade from his class. Staid politicians elsewhere in Scandinavia consider him too impulsive. Many Americans resent his bitter criticism of the Viet Nam war. Now all will be hearing a lot more of the outspoken, provocative Palme. Last week, at the age of 42, Palme was named to succeed veteran Prime Minister Tage Erlander, 68, as head of Sweden...