Democratic socialists in the United States point to Sweden as a socialist success. But Swedish historian Johan Norberg says, “Sweden is not socialist.”
Norberg hosts a documentary called Sweden: Lessons for America?, in which he notes that in Sweden, “government doesn’t own the means of production. To see that you have to go to Venezuela or Cuba or North Korea.”
John Stossel asks Norberg why so many Americans think Sweden is socialist. Norberg answers, “We did have a period in the 1970s and 1980s when we had something that resembled socialism: a big government that taxed and spent heavily.”
But big government led to problems. “Our economy was in crisis, inflation reached 10 percent, and for a brief period interest rates soared to 500 percent. At that point the Swedish population just said, ‘Enough, we can’t do this,'” Norberg says.
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The views expressed in this video are solely those of John Stossel; his independent production company, Stossel Productions; and the people he interviews. The claims and opinions set forth in the video and accompanying text are not necessarily those of Reason.