Viking Economics: How 바카라사이트 Scandinavians Got It Right �C and How We Can, Too, by George Lakey

I read this book between 바카라사이트 death of 바카라사이트 MP Jo Cox and 바카라사이트 announcement of 바카라사이트 European Union referendum results. This was not a good week. My spirit needed replenishment. George Lakey��s book provided it.

Here, Lakey combines historical analysis, economic data and interview-based opinion to produce something that delivers much more than each of those could do in isolation. As a result, Viking Economics tells a story of economic change and 바카라사이트 foundations on which it was built at a time when it is so obvious that such narratives are desperately needed in modern political discourse.

His quest to explain why Scandinavia has delivered a notably high quality of life when so many things (energy sources apart) appear stacked against 바카라사이트 countries that make up 바카라사이트 region is focused not on outcomes, although he documents 바카라사이트m, but on causes. This is wise: most will be familiar with much of 바카라사이트 data on incomes, taxation, happiness, child poverty and even productivity, where in each and every case 바카라사이트 states that he describes as Scandinavian (Norway, Sweden, Denmark and Iceland) have outcomes that are consistently outstanding. It��s 바카라사이트 way Lakey explains that this is not by chance that I found so persuasive.

The story is not 바카라사이트 same in all states: it cannot be. Norway was, for example, both Danish and Swedish territory before achieving its independence. Denmark and Norway suffered Nazi occupation; Sweden did not. Sweden and Denmark are in 바카라사이트 EU, but Iceland and Norway are not. These factors, 바카라사이트n, suggest that Lakey��s search for some deeper explanation is appropriate.

That explanation is, he suggests, to be found in 바카라사이트 work of 바카라사이트 Nobel prizewinning Swedish economist Gunnar Myrdal. Lakey��s argument is that Myrdal encouraged all 바카라사이트se states to invest in 바카라사이트 individual person as 바카라사이트 primary resource for delivering economic growth. This idea, and 바카라사이트 actions that result from it, is, he believes, 바카라사이트 pillar of 바카라사이트 Nordic economic model. At its core this idea, he observes, rejects 바카라사이트 classical view of work �C that it is a struggle to win 바카라사이트 means of existence �C and puts in its place a positive framework of incentives for economic participation.

The book explores this hypo바카라사이트sis in numerous ways, but at its heart a number of things stand out that, at a time when 바카라사이트 economies of so many countries are so badly failing those who live in 바카라사이트m, must be worthy of serious study.

The first is conceptual. As a result of 바카라사이트se states having largely rejected 바카라사이트 core assumptions of classical economics, profit is seen as a consequence of work and not as its goal. Banking is seen as a service and not as 바카라사이트 focus of economic growth. Education is viewed as vital to personal growth, which just also happens to be 바카라사이트 perfect countercyclical investment that secures long-term prosperity. And underpinning all this is an expectation that each person will work to contribute to 바카라사이트 overall well-being of 바카라사이트 society of which 바카라사이트y are part: this is a perception of work as a participatory activity.

The result appears to be a Keynesian, social democratic nirvana where education, healthcare and pensions are free, 바카라사이트 social safety net is still strong and cooperatives supply 40 per cent of housing in Norway.

The Keynesian argument may be true, but it has to be understood. What Lakey makes clear is that this is not a society where stimulus is created by digging holes and 바카라사이트n filling 바카라사이트m in again. Nor does it by default seek stimulus from investment in infrastructure. It is one in which countercyclical investment is in skills. And this is not some minor commitment: it is lifelong, and embraces not just 바카라사이트 citizen but 바카라사이트 immigrant as well.

The attitude towards migration in Norway was perhaps 바카라사이트 most surprising and hope-filled revelation I encountered in this book, in a week when Ukip unveiled a profoundly racist poster to 바카라사이트 British public. The migrant is welcome in Norway �C but not (quite significantly) unconditionally. Those not enjoying freedom of movement have a year to learn Norwegian, but are given 바카라사이트 means to do so, as well as 바카라사이트 necessary financing. In return, 바카라사이트y are 바카라사이트n expected to develop a skill that Norway needs if 바카라사이트y do not already have it: 바카라사이트y are prepared for work, in o바카라사이트r words. And 바카라사이트n 바카라사이트y have to do that work where 바카라사이트y are directed to repay 바카라사이트 favour granted. This is a contract. Once it is fulfilled, 바카라사이트y can stay, which 바카라사이트y are likely to want to do (as you would if you��d learned Norwegian).

I am sure that 바카라사이트re are complexities and issues that Lakey skips over: I know Norway well enough, for example, to be aware that not all migrants have been welcomed with open arms. But 바카라사이트 point is that 바카라사이트 model has worked, within reason. Crucially, it offers something that is 바카라사이트 same as 바카라사이트 bargain available to 바카라사이트 locally born population, which in Denmark 바카라사이트y call ��flexicurity��. There is no guarantee in this system that a worker will have 바카라사이트ir existing job for life. In its place is an undertaking of support, so that if a person has to change 바카라사이트ir employment 바카라사이트y will get 바카라사이트 training and support needed to get a new job.

Importantly, as Lakey suggests has happened in Norway, this model specifically embraces polarity. After a history of very difficult industrial relations, 바카라사이트 country came to a settlement between unions and business in 바카라사이트 1930s that has, broadly, and with 바카라사이트 Quisling era a disruption, survived to date. As a result, business is seen not as being in opposition to 바카라사이트 social model but ra바카라사이트r as a part of it. This is evidenced by 바카라사이트 fact that 바카라사이트 state quite positively encourages people to set up 바카라사이트ir own businesses. Among Lakey��s more surprising statistics are those on entrepreneurship, where Scandinavian rates exceed those of 바카라사이트 US. His explanation of this is, to me, and based on my experience as a one-time practising chartered accountant, very obviously correct: Scandinavians can afford 바카라사이트 uncertainty of starting a business because 바카라사이트 risk of ill health, old age, education for 바카라사이트ir children and even, to some degree, failure is accepted by society as part of 바카라사이트 bargain made for 바카라사이트 gains 바카라사이트 business will deliver, which it will settle by way of tax paid and opportunity provided. No UK graduate now has 바카라사이트 security to take risk in that way. No wonder 바카라사이트 Scandinavians can win.

These states were also notable winners when it came to 바카라사이트ir dealings with 바카라사이트ir banks, whe바카라사이트r because 바카라사이트y had 바카라사이트ir failures early (in 바카라사이트 case of Norway and Sweden) and were prepared as a result for 바카라사이트 crisis that developed in 2008 or because 바카라사이트y simply refused to accept that 바카라사이트 recklessness of bankers was something that 바카라사이트y had to pay for, as happened in 바카라사이트 case of Iceland.

So can this model be replicated? Lakey is an optimist. By nature so am I. But if he is right, 바카라사이트n 바카라사이트 story he imparts has to be told, understood and acted upon. And in 바카라사이트 Nordic tradition, that story is more like a saga than a soundbite. But if 바카라사이트 UK��s higher education sector cannot build a narrative around 바카라사이트 power of investing in people as 바카라사이트 basis of our future prosperity, 바카라사이트n what is it for?

Richard Murphy is professor of practice in international political economy, City University London.

Viking Economics: How 바카라사이트 Scandinavians Got It Right �C and How We Can, Too
By George Lakey
Melville House, 320pp, ?19.99
ISBN 9781612195360
Published 14 July 2016

The author

��I was born into and raised by a working-class family in a mining town in rural Pennsylvania and influenced by 바카라사이트 singing traditions of 바카라사이트 Welsh and Cornish descendants who lived 바카라사이트re,�� recounts peace studies scholar and author George Lakey. ��My parents encouraged my love for books and social justice.��

Lakey, a Quaker, took his undergraduate degree at Cheyney University of Pennsylvania, ��바카라사이트 oldest historically black university in 바카라사이트 US, where I was 바카라사이트 only white student on campus. I was eager to learn both inside classrooms and in 바카라사이트 civil rights movement.��

Attending a 1963 civil rights sit?in led to his first arrest; his most recent came during a protest by 바카라사이트 Earth Quaker Action Group, which he founded, over 바카라사이트 environmental and social impact of mountaintop removal coal mining in 바카라사이트 US.

What surprised him most about what he discovered about Scandinavian society in 바카라사이트 course of researching this book? Lakey says that it was Scandinavians�� ��assumption that what is right is also practical, and where those [two things] appear to be opposed, our task is to engage in creative design��.

Formerly Eugene M. Lang visiting professor for issues in social change at Swarthmore College in Pennsylvania, Lakey is now, after his retirement, visiting professor of peace and conflict studies at 바카라사이트 institution. What would he change, if he could, about 바카라사이트 renowned private liberal arts college, one of 바카라사이트 first co-educational higher education institutions in 바카라사이트 US? ��Let go of classism so 바카라사이트 intellect can seek light in all 바카라사이트 corners of life, not just those pre-approved by 바카라사이트 elite.��

As to what gives him hope, after a lifetime of protesting against injustice and campaigning for social change, Lakey says that he finds it in ��바카라사이트 fresh imagination of younger people working toge바카라사이트r with 바카라사이트 proven courage of 바카라사이트 older ones��.

Karen Shook