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The Quest for SecurityProtection Without Protectionism and the Challenge of Global Governance$
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Joseph Stiglitz and Mary Kaldor

Print publication date: 2013

Print ISBN-13: 9780231156868

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231156868.001.0001

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Scandinavian Equality

Scandinavian Equality

A Prime Example of Protection Without Protectionism

(p.48) 2 Scandinavian Equality
The Quest for Security

Karl Ove Moene

Columbia University Press

This chapter argues that Scandinavian equality gives direction to governance, social consciousness, and economic behavior. It shows how coordination induces wage compression in the labor market, which in turn leads to an egalitarian welfare state. Together they constitute an institutional equilibrium where equality is both cause and consequence. Faced with fierce competition on the world market, this equilibrium path has produced the smallest wage differentials, the lowest frequency of labor disputes, and the most generous welfare states in the world. It must be the prime example of protection without protectionism—where worker security and free trade have persisted together for more than sixty years despite shifting governments and varying external circumstances.

Keywords:   Scandinavia, equality, governance, social consciousness, economic behavior, social protection, protectionism

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