Editor's note

International Internet Magazine. Baltic States news & analytics Tuesday, 19.03.2024, 12:17

Nordic’s economic model for Baltic States to emulate

Eugene Eteris, BC, Copenhagen, 01.04.2016.Print version

Thinking and doing “Nordic” becomes both fashionable and perspective in modern world. The US government decided to invite Nordic leaders to the White House to get first-hand information on the region’s progressive development. Is there anything that the Baltic States can emulate too?

American constant attention to “Scandinavian way of life” in the Nordic states has been remarkably “finalized” by inviting Nordic states’ leaders to a “summit” in the White House this May. The Nordic States include Iceland, Norway, Sweden, Denmark and Finland, as well as their autonomous regions – the Åland Islands, the Faroe Islands, and Greenland.

 

The US interest is not only a proven recognition of the Nordic’s great success in the world: these states’ population is happiest in the world, economy’s blossoming with a very small unemployment coped with solid social protection and equality. There is, in fact, a general recognition of the Nordic development model in contemporary world. 

 

Besides, Western scholars “over Atlantic” are starting to challenge old-aged “American dream” becoming a flop in the US “melting-pot”. Instead, social mobility, progress and equality in Scandinavian region are becoming an attractive present day’s reality. Some even say that a “Nordic dream” has become a substitute for an American one…

Nordic quality: positive sides

The Nordic model, generally, includes a combination of free market capitalism with a comprehensive welfare state and collective bargaining at the national level. With quite significant differences among the Nordic countries, they share some common features. They include support for a "universalist" welfare state aimed specifically at: – enhancing individual autonomy and promoting social mobility; – corporatist system involving a tripartite arrangement where representatives of labor and employers negotiate wages and labor market policy mediated by the government; and – commitment to widespread private ownership, free markets and free trade.

 

Global attention (and that of the American leaders) stretches mostly through their interests in the following Nordic states’ practical outcomes:

 

= Scandinavian university education, with creating adequate new jobs for the market being, at the same time, a proven best quality in the world;

= Integrated health systems combining private-public approaches to quality treatment;

= Nordic “quality brand” in environment and nature protection, as well as in food quality and waste disposal/management;

= Extremely positive experiences and practices in water quality system; and, finally,

= Construction quality with globally recognised energy-saving methods.


Well, one can say, that it’s not much and this is what all countries shall do! That’s right, but not all states stick to these seemingly easy to perform governing functions. What is needed in following the Nordic example (if one is really serious) – political courage and far-reaching vision! The latter has to be taught in the universities, as well.

“Thinking Nordic”

It’s clear that thinking and doing “Nordic” becomes both fashionable and perspective in modern time. This socio-economic development model has proved for centuries to be a sustainable experience, well worth to follow…

 

However, the Nordic states are not that “united”: possessing common “social values” these countries are having quite different solutions to most urgent issues. But that is a small nuisance!

 

To my mind, the Baltic States have a lot to gain by closer attention to the Nordic model (and maybe even following it in some parts); anyway, there is nothing to lose…

 

There is much to dwell on in the Nordic model for all walks of researchers and practitioners, politicians and business managers! No doubt, Nordic initiatives in various sectors of development have to be closely discussed and, possibly, implemented.





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