...As an immigrant from Sweden with 30-plus years of “on-site” experience, my perspective, and that of some of my fellow countrymen who also didn’t drink the Kool-Aid, is different from that of Ocasio-Cortez, Warren, Sanders, and their “democratic socialist” followers.
Stefan Carlsson’s “The Sweden Myth” and Johan Norberg’s “How Laissez-Faire Made Sweden Rich” explain that Sweden is a mixed economy with significant free market elements — private property, private businesses, a functioning banking system, free trade, etc. — coupled with welfare statist programs such as socialized — government financed, operated, and regulated — education and health care.
They explain that the free market elements are responsible for the country’s relative wealth and health. Much of the wealth in real terms was created before and in the early stages of the welfare state, between 1870 and 1960, when Sweden was one of the countries with the lowest levels of regulation and taxation in Europe.
The one period when Sweden practiced what may be considered “democratic socialism” was between 1960 and 1980. During this period, the country nationalized industry and massively expanded the welfare state financed by tax increases and currency devaluations, and it paid a high price. Sweden fell from the top of the list of wealthiest countries in the world to the middle of the pack of industrialized nations, bringing it to the brink of ruin in the 1990s.
Realizing the practical consequences of the disastrous policies, the country cut back on its welfare programs and reduced corporate taxes, leading to somewhat of a comeback in the past two decades. But the experiment with “democratic socialism” resulted in four decades of lost progress.
Also, as welfare statism is still entrenched, with socialized medicine and education, and stifling environmental and other regulations, Swedes continue to pay the price: Economic growth is much lower than it would have been had the country returned to its pre-1960 levels of government involvement in the economy....