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Sweden overtakes the US in competitiveness

Sweden 10th ‘most admired country globally’
Sweden climbs in 'doing business' ranking

Sweden is the world’s second most competitive country, according to the World Economic Forum’s last ranking. The Scandinavian country was praised for its transparency, efficient financial markets and world-leading adoption of technology.

Switzerland topped the overall ranking in The Global Competitiveness Report 2010-2011. Sweden overtook the US and Singapore this year to be placed 2nd overall.

Sweden benefits from the world’s most transparent and efficient public institutions, with very low levels of corruption and undue influence. The government is also considered to be one of the most efficient in the world, stated the report.Private institutions also received excellent marks, with firms that demonstrate the utmost ethical behavior (ranked 1st ), strong auditing and reporting standards, and well-functioning corporate boards. Goods and financial markets are also considered very efficient.

“Combined with a strong focus on education over the years (ranked 2nd for higher education and training) and the world’s strongest technological adoption (ranked 1st in technological readiness), Sweden has developed a very sophisticated business culture (2nd) and is one of the world’s leading innovators (ranked 5th)", said the World Economic Forum in its report.

“These characteristics come together to make Sweden one of the most productive and competitive economies in the world.”The biggest obstacles for business in Sweden were restrictive labour regulations, high tax rates and messy tax regulations. The report also pointed out poor access to financing.

Like Sweden, the other Nordic countries continue to be well positioned in the rankings. Finland (7th) and Denmark (9th) also made the top 10, and Norway was 14th.

Germany came fifth in the rankings, followed by Japan in sixth. The United Kingdom recovered from a drop in the rankings, to move up one place to 12th.

The Global Competitiveness Report 2010-2011

Last Updated (Wednesday, 09 March 2011 15:02)

 

Comments 

 
#14 2011-02-21 02:08
This is no surprise to us. We are Sweden fans from the German language countries, and the ones among us who moved permanently to Sweden have not regretted it.
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#13 2011-02-18 12:28
Quoting Savantster:
Faster growth causes bubbles and encourages abuse of workers. High taxation causes stability, that's evidenced all through history. It can't always be about "growth".

Bubbles caused by monetary manipulation are a problem because they always burst leading to recession. Better to use a privately issued currency.

I disagree with your view of taxes & history. High taxes lead to tax evasion & even rebellion. Not to mention lower growth & poverty.
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#12 2011-02-18 02:22
And if you want to see a competitive nation that makes Sweden look 2nd place...then look at Sweden's neighbor of Norway. They have a higher GNP and they have consistently rated number 1 as the best nation to live in. Sweden isn't a bad place, but far from being utopia. Most people live in apartments in Sweden, whereas in Norway many own their own home. The quality of life is better in Norway and noticeable. Plus the people are much more friendly.
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#11 2011-02-18 02:19
Sweden is no utopia. My wife is from Sweden and for starters, the Swedish health care system is not free. My wife needed a series of shots for immigration to the US. We found out that the shots alone are 300 percent MORE than the USA and the cost for health care in Sweden is greater than the US and the whole health care system is a graduated system of care. It's great until you are about 21 and then slowly diminishes. Then they practically pull the plug once u are in a nursing home.
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#10 2011-02-17 21:07
Quoting Darren:
Taxes are a negative factor affecting an economy. . . . That's why you can have growth & high taxes. It doesn't change the fact that taxes slow the economy. Growth is stronger with lower taxes than high ones:

Corporate Taxes Suffocate Growth


Faster growth causes bubbles and encourages abuse of workers. High taxation causes stability, that's evidenced all through history. It can't always be about "growth".
Quote
 
 
#9 2011-02-17 20:25
Don't underestimate this reason: "strong auditing and reporting standards."

An element a healthy market is transparency.

The oft referred to "invisible hand" which keeps prices fair for the consumer in a free market, can not work without all the players having access to legitimate pricing information.
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#8 2011-02-17 16:12
WAIT A DARNED MINUTE!! Everybody KNOWS that Sweden is a notorious Socialist hellhole. (Even Paul Krugman has so characterized it.) There couldn't possibly be anything good coming out of there.
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#7 2011-02-17 15:19
Quoting Hugo:
..taxes as always presented as an abstract burden...


Taxes are a negative factor affecting an economy. They aren't the only factor though. That's why you can have growth & high taxes. It doesn't change the fact that taxes slow the economy. Growth is stronger with lower taxes than high ones:

Corporate Taxes Suffocate Growth
http://mises.org/daily/3024
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#6 2011-02-17 15:16
Oh this is so surprising, I mean I am caught totally off guard. Look the American have their Nazi,Racist,One World Order republican party that has been working overtime for the last 45 years to Break America.
Proof they have except for service jobs exported ALL manufacturing jobs out of their country. Go to Minnesota and the GE plant does painting and assembling of Major Power Plant Equipment IMPORTED from Europe, their cars are made in Latin America and Mexico.
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#5 2011-02-17 14:56
This comes as no surprise as our imperial govt here in the US is controlling things, including the economy, more & more. Before all the socialists start saying this proves socialism works let me point out that Sweden is ranked well on the 2011 Index of Economic Freedom: http://www.heritage.org/index/Country/Sweden
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