scholarly journals The Rehn-Meidner model and its role in the Swedish economic policy

2021 ◽  
Vol Special Edition (Special Edition) ◽  
pp. 85-93
Author(s):  
Marta Sawer
Keyword(s):  
Economic Policy ◽  
Trade Unions ◽  
Full Employment ◽  
External Factors ◽  
Economic Decisions ◽  
Active Labour ◽  
Marginal Employment ◽  
The 1950S ◽  
Oil Crises ◽  
Over Time

This paper aims to describe the Swedish Rehn-Meidner model, the cause of its creation, its features and the reasons for changes in the Swedish economic policy over several decades. The model was developed by two Swedish economists in 1951 and it impacted the economic policy over the following decades. It was intended to facilitate achieving the goals of full employment, price stability, economic growth and equality in a redistribution of income through the policies of solidarity wage, restrictive economy, active labour market and marginal employment. The model was designed as a solution to the "overheating" of the Swedish economy in the 1950s. The implementation of the model initially proved to be successful. However, in the 1970s the economic policy began to be more influenced by trade unions, acting mainly in their own interest. Due to the growing globalisation other external factors, such as oil crises and negative demand shocks, started to have an increasing impact on Sweden. It was when economic decisions started to shift away from the recommendations of the model, and the "golden age" of the 1950s and 1960s came to an end. The following analysis intends to explain what was the model characterisation, how it influenced Sweden's development, and why the country economic policy has changed over time. It also states that despite changes in the economy, certain elements of the model have remained valid until today.

Labour Relations in the New Economic Environment

1993 ◽  
Vol 18 (3) ◽  
pp. 3-12 ◽  
Author(s):  
N R Sheth
Keyword(s):  
Economic Policy ◽  
Trade Unions ◽  
Global Economy ◽  
Full Employment ◽  
Industrial Relations ◽  
Responsibility To Protect ◽  
Mutual Trust ◽  
New Economic Policy ◽  
Labour Relations ◽  
The Government

The process of rationalization and liberalization dominating the government's new economic policy (NEP) is an inevitable part of India's need to exist and grow with dignity in the emerging global economy. While this implies freedom and flexibility for industry, this has also led to incidence of labour redundancy, unemployment and casualization. With the government committed to full employment in the current five-year plan and the trade unions bearing a crucial social responsibility to protect workers' interests, the industrial relations issues involved in NEP need to be resolved amicably. This paper by N R Sheth examines these issues in detail and discusses the need for a meaningful dialogue among the various concerned parties in an atmosphere of mutual trust.

One Hundred Years of Swedish Economic Policy

2016 ◽  
Author(s):  
Leif Lewin ◽  
Johannes Lindvall
Keyword(s):  
Economic Policy ◽  
Economic Model ◽  
Policy Making ◽  
Full Employment ◽  
Transition To Democracy ◽  
Fiscal Policies ◽  
Economic Policies ◽  
The Third ◽  
Policy Shifts ◽  
Over Time

This chapter analyzes the development of Swedish economic policy from the early 1920s to the present. The chapter has three objectives: to describe how Swedish economic policy-making has evolved over time, concentrating on a few especially important periods: the adoption of expansionary fiscal policies in the 1930s, the development of Sweden’s postwar economic model in the 1950s, the struggle to maintain full employment in the 1970s and 1980s, the financial crisis of the early 1990s, and Sweden’s response to worldwide recession in the 2000s. The second objective is to show if and when Swedish governments have pursued economic policies that set Sweden apart from other rich democracies; and the third is to examine a number of scholarly debates concerning how to explain some of the economic policy shifts that have occurred in Sweden since its transition to democracy in the 1910s.

On the Individual

1999 ◽  
Vol 4 (4) ◽  
pp. 205-218 ◽  
Author(s):  
David Magnusson
Keyword(s):  
School Psychologist ◽  
Real Life ◽  
Psychological Research ◽  
Developmental Research ◽  
Future Directions ◽  
The 1950S ◽  
The Individual ◽  
Over Time

A description of two cases from my time as a school psychologist in the middle of the 1950s forms the background to the following question: Has anything important happened since then in psychological research to help us to a better understanding of how and why individuals think, feel, act, and react as they do in real life and how they develop over time? The studies serve as a background for some general propositions about the nature of the phenomena that concerns us in developmental research, for a summary description of the developments in psychological research over the last 40 years as I see them, and for some suggestions about future directions.

Problems of the US Economic Policy

2013 ◽  
pp. 129-143
Author(s):  
V. Klinov
Keyword(s):  
Economic Policy ◽  
Real Estate ◽  
Full Employment ◽  
Tax Rates ◽  
Equitable Distribution ◽  
Investment Rate ◽  
The Us ◽  
Budget Systems ◽  
Enterprise Activity ◽  
The U.S

How to provide for full employment and equitable distribution of incomes and wealth are the keenest issues of the U.S. society. The Democratic and the Republican Parties have elaborated opposing views on economic policy, though both parties are certain that the problems may be resolved through the reform of the federal tax and budget systems. Globalization demands to increase incentives for labor and enterprise activity and for savings to secure proper investment rate. Tax rates for labor and enterprise incomes are to be low, but tax rates for consumption, real estate and land should be progressive.

40 Jahre Stabilitäts- und Wachstumsgesetz. Theoretische Analyse und statistische Evaluation einer verfassungsökonomischen Innovation

2008 ◽  
Vol 49 (1) ◽  
Author(s):  
Heinz Grossekettler
Keyword(s):  
Economic Growth ◽  
Trade Unions ◽  
Full Employment ◽  
Working Hours ◽  
Control Group ◽  
Wage Policy ◽  
Inappropriate Use ◽  
Success Stories ◽  
The Law ◽  
The Impact

AbstractThis paper considers the impact over time of the German “Economic Growth and Stability Law”, which had its 40th anniversary on the 6th June, 2007. After looking at the history and development of the law and the associated expectations, the intended functions are analysed critically. Inappropriate use of the law is analysed from the perspective of public choice, as well as the insufficient consideration of reaction delays and, above all, the underestimation of the role of expectations. Furthermore, attention is paid to the fact that planning and coordination problems have not been satisfactorily resolved. A comparison with a control group from major European countries is then used to determine whether one can talk meaningfully in the German context of particular success stories in countering fluctuations in business cycles, the development of governmental debt and of legal objectives with respect to “price level stability”, “high levels of employment”, “current account equilibrium” and “satisfactory economic growth”. It becomes evident that government debt and unemployment have risen more in Germany and that growth rates have declined more sharply than in the countries on which the comparison is based. After discussing the hypotheses for explaining the weak German growth, growth accounting demonstrates that changes in the demographic structure, the substantial shortening of working hours and early retirement, blunders in the reunification process and an aggressive wage policy on the part of trade unions, particularly in the seventies, are the main reasons for low growth. This wage policy was triggered by the expectation of the trade unions that, with the aid of the Stability and Growth Law, the state would ensure full employment. In reality, however, the wage policy led to a reduced rate of investment and growth. This process could only be terminated by the restrained wage policy of the past few years.

From the Golden to the Dark Decade, From Reforms to Isms and Ologies

1980 ◽  
Vol 15 (3-4) ◽  
pp. 457-470
Author(s):  
John Pinder
Keyword(s):  
Social Security ◽  
Social Science ◽  
Full Employment ◽  
Demand Management ◽  
Safety Net ◽  
Human Condition ◽  
The 1950S ◽  
Applied Social Science ◽  
Post War ◽  
The Welfare State

THE 1950s WERE A WONDERFUL DECADE FOR APPLIED SOCIAL science: for the belief that reason addressed to economic and social problems can improve the human condition. Compare the 1950s with the 1930s and ask how much of the improvement was due to Keynes and Beveridge. It is inevitable that a generation of debunkers should follow whose answer would be ‘not much’. But that would have seemed a strange conclusion in the 1950s; and the view of the 1950s was surely right. We had full employment in place of 10 per cent unemployment in the 1920s and nearly 15 per cent in the 1930s; and after the first years of post-war reconstruction, it was reasonable to attribute this to Keynesian demand management. We had a safety net through which relatively few fell into poverty; and this was Beveridge's social security and the welfare state.

Democracy over power? The democratic decision-making process in the case of the attempted privatization of Estonia’s power production

2018 ◽  
Vol 51 (4) ◽  
pp. 361-373
Author(s):  
Anna Khakee
Keyword(s):  
Decision Making ◽  
Trade Unions ◽  
Power Plants ◽  
Single Case ◽  
Decision Making Process ◽  
Playing Field ◽  
Business Interests ◽  
Economic Decisions ◽  
The Us ◽  
Us Government

The suspense-filled attempted partial privatization of the Narva Power Plants in the neo-liberal darling Estonia involved a rich cast, from trade unions and local scientists, via Estonian courts and ombudsmen to international consulting firms, major global banks and the US government. More important, a detailed single case study on the democratic decision-making process in this privatization case makes it possible to go beyond common generalizations regarding the consequences of neo-liberalism for democratic processes. It shows that purported proponents of economic neo-liberalism such as the US government sometimes use their arguments to advance the narrow business interests of politically well-connected firms. Established private firms can behave in a more rent-seeking manner than publicly owned, ex-communist companies. Liberal economic principles of open competition and a level playing-field are at times used by actors in the democratic process to question top-down, opaque economic decisions.

scholarly journals Concluding Remarks on the Negative Natural Rate of Interest

2021 ◽  
pp. 225-245
Author(s):  
Carl Christian von Weizsäcker ◽  
Hagen M. Krämer
Keyword(s):  
Public Debt ◽  
Full Employment ◽  
Natural Rate ◽  
Extrapolation Procedure ◽  
The Public ◽  
Secular Evolution ◽  
Natural Rate Of Interest ◽  
Great Divergence ◽  
China Region ◽  
Over Time

AbstractThe Great Divergence: The period of production T is not rising anymore. The “waiting period” Z is rising over time with the rising standard of living and rising life expectancy, and this is the case worldwide. In the interest of full employment, the public debt periodD has to compensate for this divergence: T = Z − D. Using an extrapolation procedure that we have developed and the available empirical data, we calculate total private wealth in the OECD plus China region. Net public debt already accounts for nearly half of private wealth today. COVID-19 increases the optimal steady-statepublic debt period. Both our theory and our empirical findings are increasingly confirmed by the work of other economists: for example, by Lawrence Summers’secular stagnation thesis and by the study of Jordà, Schularick and others on the secular evolution of private wealth.

scholarly journals Theory Of Patronized Goods. Liberal Evolution Of Paternalism.

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Aleksandr Yakovlevic Rubinstein
Keyword(s):  
Economic Policy ◽  
Rational Behavior ◽  
Economic Decisions

The neo-classical principles of rational behavior are considered in the context of the nature of paternalism as the basis of the Theory of patronized goods. The formation of society’s normative interests is discussed in concern of political aspects. The article illustrates the theoretical and the practical aspects of the concept of consociation democracy, providing liberalization of the institutions for making political and economic decisions. The results of analysis reveal a pattern of paternalism drifting towards institutional liberalization. Proposed a hypothesis explaining why the economic policy in modern Russia still remains somewhere between archaic and merit paternalism.  

scholarly journals Wealth of nomads – an exploratory analysis of livestock inequality in the Saami reindeer husbandry

2021 ◽  
Author(s):  
Marius Warg Næss ◽  
Bård-Jørgen Bårdsen
Keyword(s):  
Primary Source ◽  
Wealth Inequality ◽  
External Factors ◽  
Social Differentiation ◽  
Reindeer Herding ◽  
Reindeer Husbandry ◽  
The Poor ◽  
Wealth Inequalities ◽  
Rank Differences ◽  
Over Time

Social inequality is pervasive in contemporary human societies. Nevertheless, there is a view that livestock, as the primary source of wealth, limits the development of inequalities, making pastoralism unable to support complex or hierarchical organisations. Thus, complex nomadic pastoral organisation is predominantly caused by external factors, i.e., historically nomadic political organisation mirrored the neighbouring sedentary population's sophistication. Using governmental statistics on reindeer herding in Norway (2001 - 2018), this study demonstrates nothing apparent in the pastoral adaptation with livestock as the main base of wealth that level wealth inequalities and limits social differentiation. This study found that inequality was generally decreasing in terms of the Gini coefficient and cumulative wealth. For example, the proportion owned by the wealthy decreased from 2001 to 2018, while the proportion owned by the poor increased. Nevertheless, rank differences persist over time with minor changes. Especially, being poor is stable: around 50% of households ranked as poor in 2001 continued to be so in 2018. In sum, results from this study indicate that pastoral wealth inequality follows the same patterns as all forms of wealth. Wealth accumulates over time, and because the highest earners can save much of their income (i.e., newborn livestock), low earners cannot. High earners can thus accumulate more and more wealth over time, leading to considerable wealth inequalities.

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