Is Scandinavia “democratic socialist” while the USA is “capitalist”?

The Scandinavian nations are consistently in the top 10% most free-market capitalist nations, and more so than the USA which is currently ranked 25th.  That’s been the case for the last generation of rankings in, e.g., this Index of Economic Freedom.

The Index ranks 177 nations around the world. That means the top 18 nations comprise the top 10% economically free nations, as in the image shown here. All of the Scandinavian nations are in the list. The USA does not even make the list.

So it’s a myth that the Scandinavians are democratic socialist. In some respects they’re more redistributionist than the USA — and vice-versa — but in more respects they’re more capitalist. And because they became much more free-market during the 20th century they’ve been able to afford more redistributionism. 

The full list of 177 nations is here.

2 thoughts on “Is Scandinavia “democratic socialist” while the USA is “capitalist”?”

  1. In order to generate a single score from a multiple input scores, you have to apply weighting. The weighting is everything. Doesn’t this list, and your contention, equate to “according to the formula I agree with, I’m right?”

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