Scandinavia

Scandinavia, historically Scandia, part of northern Europe, is generally held to consist of the two countries of the Scandinavian Peninsula, Norway and Sweden, with the addition of Denmark. Some authorities argue for the inclusion of Finland on geologic and economic grounds and of Iceland and the Faroe Islands on the grounds that their inhabitants speak North Germanic (or Scandinavian) languages related to those of Norway and Sweden.

The term Norden has also come into use to denote Denmark, Finland, Iceland, Norway, and Sweden, a group of countries having affinities with one another and a distinctness from the rest of continental Europe. Among their distinguishing characteristics are thinly populated northern regions, a relative wealth of fish resources, long life expectancies, and high levels of literacy.

Scandinavia and the Social State

Despite of a large welfare state and high taxes, the Scandinavian countries are considered to have strong economies.

The hallmarks of this "Nordic model" include:

• a comprehensive welfare state with an emphasis on transfers to households and publicly provided social services financed by taxes, which are high notably for wage income and consumption;
• a lot of public and/or private spending on investment in human capital, including child care and education as well as research and development (R&D); and
• a set of labour market institutions that include strong labour unions and employer associations, significant elements of wage coordination, relatively generous unemployment benefits and a prominent role for active labour market policies.

External links

• Scandinavia on Wikipedia