Nordic Model Analyses:

Introduction

The crux of this book is that it can help build Vision and processes for improvements by stances on positive development syndromes versus special interests scenarios. That may even open up to serendipity.

Contrast with Econometric Models

In contrast, there are specific econometric models and adjacent historic data, which lack contact with today's diverse events of real life, i.e., behavioural aspects and the risk of changes. It is much too easy to build a scenario based on game theory and/or accepting others' algorithm based on interpretation of behaviour and risk of changes defined by so-called elasticities.

Financial Economy and Power Dynamics

By embracing the financial economy, a ring of well-positioned econometricians has gained power worldwide, especially in small Nordic countries, where seeking consensus based on historic data is a common practice. New insight tends to arrive too late; unforeseen events will continue to surprise.

Challenges in Nordic Countries

Such countries are easily exploited by elite circulation and fragmentation of decision making benefiting special interests. The gap between the financial and the real economy will grow. Hidden agendas and asymmetric information will thrive.

Consequences and Critique

The results are losses of resources plus disintegration for a large majority of enterprises and citizens. One may say that the demise of the old-fashioned Nordic model is embedded in the gullibility of its inmates. They look up to authorities and lack the needed oversight, agility, and sense of urgency to adapt and change.

Call for Reinvention

To rock the boat and reinvent the Nordic model is much needed. It can be attained by focusing on the real economy and the behaviour of its inmates.