Nordic Welfare Capitalism in the Emerging Global Political Economy
The main objective of this chapter is to define and to explore the viability of the Nordic Models of welfare capitalism, with a particular focus on Sweden. These models were expressions of an exceptionally inclusive and egalitarian state capitalism in the era of Pax Americana. What are the prospects for the Nordic Models in response to forces of globalization which have developed and strengthened in the past two decades? The first step in answering this question is to sketch what I call the transformation from Pax Americana to the global political economy. This global framework can thus be read as a theoretical-historical background to the question of the nature and limits to globalization for the book as a whole.
KeywordsMonetary Policy Welfare State Nordic Country Industrial Policy Labour Movement
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