Lane debunks the claim, made by Bernie Sanders and other Dem progressives, that the Nordic nations and the Netherlands run socialist systems. Lane writes:
Drawing on data from the World Bank, the Organization of Economic Cooperation and Development and other reputable sources, the (JPMorgan, Chase) report shows that five nations — Sweden, Denmark, Finland, Norway and the Netherlands — protect property rights somewhat more aggressively than the United States, on average; exercise less control over private enterprise; permit greater concentration in the banking sector; and distribute a smaller share of their total income to workers.The JPMorgan, Chase report concludes:
Copy the Nordic model if you like, but understand that it entails a lot of capitalism and pro-business policies, a lot of taxation on middle class spending and wages, minimal reliance on corporate taxation and plenty of co-pays and deductibles in its healthcare system.Socialism is mistakenly thought of as a way to share the wealth; in practice it is a way to share the poverty. The Nordics learned this the hard way, after stubbing their collective toe.
Can we learn it vicariously, without experiencing the pain? I hope we can.
