Wage Inflation in Post-War Finland

Abstract

The economic policy customarily pursued in Finland was recently characterized by Per Jacobsson as follows: ‘A readiness to take the initiative, and even to experiment, has remained a characteristic of Finland’s political and economic life. Of course, Finland has not always been right; mistakes have no doubt been made, but the country has continued to make rapid progress under conditions that have not always been very favourable. It is useful to study a country that is not afraid to deviate from the common pattern, for such a study is apt to throw fresh light on factors which determine the trend of economic developments.’¹