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This book outlines the origins of Danish Capitalism and prosperity, from a poor and devastated minor state in the 19th century to a consolidated universal mixed economy welfare state at the end of the 20th century. The book argues that firm-based innovation drove Danish prosperity and redistributive capacity. It is a comprehensive but manageable examination of the institutions and choices that shaped a highly innovative and wealthy nation. The book relies on history and economic theory, presents commonly accepted narratives and theories, and contributes new explanations. Therefore, the book also traces both antecedents and the current state of 20th-century capitalism in Denmark and particular outcomes and critical institutions such as firm age, the labor market, and pension schemes. The book will be of interest to academics in business history and economic policy, as well as policymakers and all those interested in mixed economy studies.
"If a colleague had asked me about an interesting topic that has not been researched, I would have recommended writing a book about Danish Capitalism. The reason is that Denmark is always held up as an example of a highly successful society that everyone wants to emulate, including Americans. Stefan Kirkegaard Sløk-Madsen has produced a masterpiece on Danish Capitalism, and it is written for a non-Danish audience. This is a must-read for all those interested in lessons for the 21st Century from the 20th Century. A great read and an important one." (- Zoltan Acs, Professor at the Schar School of Policy and Government and Director of the Center for Entrepreneurship and Public Policy at George Mason University) This book outlines the origins of Danish Capitalism and prosperity, from a poor and devastated minor state in the 19th century to a consolidated universal mixed economy welfare state at the end of the 20th century. The book argues that firm-based innovation drove Danish prosperity and redistributive capacity. It is a comprehensive but manageable examination of the institutions and choices that shaped a highly innovative and wealthy nation. The book relies on history and economic theory, presents commonly accepted narratives and theories, and contributes new explanations. Therefore, the book also traces both antecedents and the current state of 20th-century capitalism in Denmark and particular outcomes and critical institutions such as firm age, the labor market, and pension schemes. The book will be of interest to academics in business history and economic policy, as well as policymakers and all those interested in mixed economy studies. Dr. Stefan Kirkegaard Sløk-Madsen holds a Ph.D. in economics from Copenhagen Business School (CBS). He has been a visiting researcher at UBC Sauder School of Business and is an external lecturer at CBS and Aalborg University. He has published in peer-reviewed journals and presented his academic work at several international conferences. He has an industry background as a tech entrepreneur and in operational private equity and has consulted for many companies on issues such as M&A, pricing, and sales. He is currently Head of Education at the economic think tank CEPOS and hosts a popular podcast series on the history of economic thought, EconRoots.
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
Liberals worldwide invoke Scandinavia as a promised land of equality, while most conservatives fear it as a hotbed of liberty-threatening socialism. But the left and right can usually agree on one thing: that the Nordic system is impossible to replicate elsewhere. The US and UK are too big, or too individualistic, or too . . . something. In Viking Economics George Lakey dispels these myths. He explores the inner workings of the Nordic economies that boast the world’s happiest, most productive workers, and explains how we can enact some of the changes—including universal healthcare, affordable childcare, and a month of paid vacation for all—that the Scandinavians fought for surprisingly recently. We, too, can refuse to be governed by the elites and embrace equality in our economic policy—here’s how.
Few discussions in modern social science have occupied as much attention as the changing nature of welfare states in western societies. Gosta Esping-Andersen, one of the most distinguished contributors to current debates on this issue, here provides a new analysis of the character and role of welfare states in the functioning of contemporary advanced western societies. Esping-Andersen distinguishes several major types of welfare state, connecting these with variations in the historical development of different western countries. Current economic processes, the author argues, such as those moving towards a post-industrial order, are not shaped by autonomous market forces but by the nature of states and state differences. Fully informed by comparative materials, this book will have great appeal to everyone working on issues of economic development and post-industrialism. Its audience will include students and academics in sociology, economics and politics.
Offers qualitative studies of collaboration processes conducted in globalising companies based in Denmark and with subsidiaries in Asia. It addresses the specific contexts of collaboration and studies how people with different cultural backgrounds work together, both face-to-face and in the virtual workplace.
Contributors include Peter Abrahamson (University of Copenhagen), Peter A. Hall (Harvard), Ulf Hedetoft (University of Aalborg), Lars Bo Kaspersen (Copenhagen Business School), Peter J. Katzenstein (Cornell University), Morten Kelstrup (University of Copenhagen), Ove Korsgaard (Danish University of Education), Peer Hull Kristensen (Copenhagen Business School), Per Kongshøj Madsen (University of Aalborg), Cathie Jo Martin (Boston University), Kevin H. O'Rourke (Trinity College Dublin), Uffe Østergård (University of Aarhus), and Hjalte Rasmussen (University of Copenhagen).
The book explores the ways in which social cohesion — measured as trust in unknown fellow citizens — can be established and undermined. It examines the US and UK, where social cohesion declined in the latter part of the twentieth century, and Sweden and Denmark, where social cohesion increased, and aims to put forward a social constructivist explanation for this shift. Demonstrating the importance of public perceptions about living in a meritocratic middle class society, the book argues that trust declined because the Americans and British came to believe that most other citizens belong to an untrustworthy, undeserving, and even dangerous 'bottom' of society rather than to the trustworthy middle classes. In contrast, trust increased amongst Swedes and Danes as they believed that most citizens belong to the 'middle' of society rather than to the 'bottom'. Furthermore, the Swedes and Danes came to view the (perceived) narrow 'bottom' of their society as trustworthy, deserving, and peaceful. The book argues that social cohesion is primarily a cognitive phenomenon, in contrast to previous research, which has emphasized the presence of shared moral norms, fair institutions, networks, engagement in civil society etc. The book is based on unique empirical data material, where American survey items have been replicated in the British Social Attitude survey and the Danish and Swedish ISSP surveys (exclusively for this book). It also includes a unique cross-national study of media content covering a five year period in UK, Sweden, and Denmark. It demonstrates how 'the bottom' and 'the middle' is differently constructed across countries.