How Swedes and Norwegians Broke the Power of the ‘1 Percent’

  • metta

    Posts: 38662

    Jul 16, 2016 4:36 PM GMT
    How Swedes and Norwegians Broke the Power of the ‘1 Percent’

    "The 1 percent thereby lost its historic power to dominate the economy and society. Not until three decades later could the Conservatives return to a governing coalition, having by then accepted the new rules of the game, including a high degree of public ownership of the means of production, extremely progressive taxation, strong business regulation for the public good and the virtual abolition of poverty. When Conservatives eventually tried a fling with neoliberal policies, the economy generated a bubble and headed for disaster. (Sound familiar?)

    Labor stepped in, seized the three largest banks, fired the top management, left the stockholders without a dime and refused to bail out any of the smaller banks. The well-purged Norwegian financial sector was not one of those countries that lurched into crisis in 2008; carefully regulated and much of it publicly owned, the sector was solid.

    Although Norwegians may not tell you about this the first time you meet them, the fact remains that their society’s high level of freedom and broadly-shared prosperity began when workers and farmers, along with middle class allies, waged a nonviolent struggle that empowered the people to govern for the common good."
  • WestCoastJock

    Posts: 311

    Jul 17, 2016 12:01 AM GMT
    We need to vote for the green party so that we can bring down the establishment of both parties.