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Economic Success In Scandinavian Countries Essay

1663 words - 7 pages

Road to Economic Success for Scandinavian Countries

From prehistoric times we have come to know man’s primary instinct is survival. Basic ingredients necessary for survival are mainly food, clean water and shelter. Man has forever sought out these resources to fulfill his basic needs. It is the nature of the earth that it is unevenly distributed and yet equally blessed. If there is a barren land that lacks vegetation then it has been blessed with black gold; oil and coal. If a land is laden with vegetation then it may lack in something else. It is the uneven distribution of nature’s resources and man’s sequential discovery of them that has led to migration from the beginning of time. It ...view middle of the document...

History of Scandinavia:
The relevant portion of Scandinavian history starts for us from the mass emigration of the Scandinavian population to the United States. Dag Blanck, Director of the Swenson Center, mentions the following in his article “Swedish Immigration to North America “:
Immigration to the United States in the nineteenth and early twentieth centuries was a part of the economic and social transformation that affected both Europe and North America, when between 1850 and 1950 some fifty million Europeans settled in non-European areas. A strong population growth in Sweden increased the pressure on a society that was fundamentally agricultural in nature, and moving to North America provided the Swedish emigrants with economic opportunity not available in the homeland. Religious and political reasons played a much smaller role for the move to America, although it was decisive in some instances. (Dag Blanck)
Agricultural land that was of high quality and fertile was scarce in proportion to the population. Much of the land was too stony; hence a mass emigration to the United States was justified. However a change of fortunes came for Scandinavian countries and more particularly Sweden after the end of the World War Two. The following few pages will analyze the determinants of economic growth for three major Scandinavian countries- Sweden, Norway, and Denmark.

Determinants of Economic Expansion:
Erungor explains that Sweden chose to be neutral during World War Two and therefore emerged unharmed and experienced a tremendous economic growth until the early 1970s. He continues, “Sweden used to be a country of emigrants until the 1930s, but the demand for labor spurred immigration to Sweden. In the early 1970s, Sweden had one of the highest income levels in Europe.”
So where does Sweden stand today? The article as mentioned in the article “Agricultural toward Industrial” tells us the following:
Sweden today is a highly competitive capitalist, developed export-oriented diverse economy. Timber, hydropower and iron-ore constitute the resource base of an economy preoccupied with foreign trade. Motor vehicles, telecommunications, pharmaceuticals, industrial machines, precision equipment, chemical goods, home goods and appliances, forestry, iron, and steel are the main industries of Sweden and they are good enough to compete internationally, examples of these are LM Ericsson, ASEA/ABB, SKF, Alfa Laval, Aga, and Dyno Nobel.
Sweden is also very well known for its furniture IKEA which has branches in several nations around the globe. Another very well-known Swedish company is H & M which is perhaps the single most popular clothing brand internationally. Their strategy is to sell stylish up to date clothing at extremely affordable prices. However their furniture and clothing don’t last very long.
All this economic progress is fine and dandy but what really lures in foreign immigrant population into the country are the...

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