Nordic model Flashcards
(14 cards)
What is the Nordic Model?
A mixed economic and social welfare system combining free-market capitalism with a strong welfare state, used in countries like Sweden, Norway, Denmark, and Finland.
What are the main components of the Nordic Model?
Economic freedom, progressive taxation, universal social programs, strong labor unions, and government regulation promoting equality and social justice.
What types of social programs are funded by high taxes in the Nordic Model?
Universal healthcare, education, unemployment benefits, pensions, childcare, and parental leave.
How does the Nordic Model maintain economic freedom?
It allows private businesses to operate and thrive in a regulated market economy while maintaining property rights and entrepreneurial activity.
How do labor unions function in the Nordic Model?
Labor unions cooperate with employers and government through collective bargaining to ensure fair wages and working conditions.
What role does government regulation play in the Nordic Model?
Governments regulate the economy to reduce inequality, protect workers’ rights, and ensure fair access to essential services.
How does the Nordic Model impact poverty and living standards?
It significantly reduces poverty and ensures a high standard of living for all citizens through universal welfare and social safety nets.
How does the Nordic Model reflect modern liberalism?
It supports individual freedoms (like private ownership and political rights) while ensuring collective welfare through state intervention in the economy.
How does the Nordic Model contrast with laissez-faire capitalism?
Unlike laissez-faire capitalism, the Nordic Model includes significant government intervention to promote social equity and economic stability.
How does the Nordic Model differ from authoritarian socialism?
It preserves democracy and private enterprise, unlike authoritarian socialism, which involves centralized state control over all production and political life.
What ideological balance does the Nordic Model illustrate?
A balance between liberal individualism (economic freedom, democracy) and collectivist values (equality, social welfare).
Why is the Nordic Model significant in ideological debates?
It challenges the belief that high taxes and social programs harm economic growth, showing how prosperity and social justice can coexist in a democratic society.
How does the Nordic Model address market failures?
Through government policies that redistribute wealth, provide public goods, and correct inequality, ensuring that markets serve the common good.
What political and economic ideology do Nordic countries primarily support?
Modern liberalism — a blend of individual freedoms, democratic governance, free-market capitalism, and strong government intervention to promote social welfare and equality.
