Is Sweden’s economy socialist? or is it a social democracy? Or is Sweden a capitalistic country or more like a mixed economy?

By now, you must have heard people, especially Americans, saying they do not like Capitalism. They say they have something better… Socialism!

When presented with the facts of what happened with socialism, in countries like Venezuela, and its authoritarian tendency, they say they have a new variant of socialism, called democratic socialism, that fixes this issue, and in return gives you something perfect, like a utopia, like in Scandinavian countries, like Denmark and Sweden.

A quick google search of a basic definition of Socialism goes something like this: “a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.”

On the other hand, a definition of capitalism goes something like “an economic and political system in which trade and industry of a country, are controlled by private owners for profit, rather than by the state.”

But is Sweden a socialist country? Let us dig deep into it.

#economy #sweden #socialism