- Title Pages
- List of Figures
- List of Tables
- List of Contributors
- 1 Macroeconomic Perspectives on the Nordic Economies
- 2 Collective Risk Sharing
- Comments on ‘Collective Risk Sharing’
- 3 Missing the Link?
- Comments on ‘Missing the Link?’
- 4 Labour Market Policies in Denmark
- Comments on ‘Labour Market Policies in Denmark’
- 5 What Scope for Monetary Policy?
- Comments on ‘What Scope for Monetary Policy?’
- 6 Monetary Policy and Exchange Rate Stabilization in Norway and Sweden
- Comments on ‘Monetary Policy and Exchange Rate Stabilization in Norway and Sweden’
- 7 House Prices in Denmark and Sweden
- Comments on ‘House Prices in Denmark and Sweden’
- 8 Reforming the Fiscal Framework
- Comments on ‘Reforming the Fiscal Framework’
- 9 Shaping the Fiscal Policy Framework
- Comments on ‘Shaping the Fiscal Policy Framework’
- 10 A Crisis Not Wasted
- Comments on ‘A Crisis Not Wasted’
- 11 Finland and Sweden in a Cross-Country Comparison
- Comments on ‘Finland and Sweden in Cross-Country Comparison’
- 12 Iceland
- Comments on ‘Iceland’
- 13 Challenges to the Nordic Model
Missing the Link?
Missing the Link?
On the Political Economy of Nordic Egalitarianism*
- (p.50) 3 Missing the Link?
- Reform Capacity and Macroeconomic Performance in the Nordic Countries
Karl Ove Moene
- Oxford University Press
This chapter asks how the Nordic countries have become so egalitarian. It is argued that the political economy of Nordic egalitarianism depends critically on labour market institutions. Both sides of the negotiation table are responsible for the small wage differentials. This essential link may be missing, not only in the minds of the interpreters of the Nordic model, but also in the future of the Nordic countries. Structural change, in the form of uneven mechanization across sectors, may erode the power of both export-led unions and employers. At the same time it may reduce voters’ willingness to pay for redistributive welfare services, thereby threatening the future sustainability of the Nordic model.
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