economic and social policies common to the Nordic countries, including a comprehensive welfare state and collective bargaining at the national level, while being based on the economic foundations of free market capitalism
The Nordic model (or Nordic capitalism or Nordic social democracy) is the economic and social policies common to the Nordic countries (Denmark, Finland, Norway, Iceland, Greenland, Faroe Islands and Sweden).
- The Nordic Way, Klas Eklund, Henrik Berggren and Lars Trägårdh. 2011.
- Nik Brandal, Øivind Bratberg, Dag Einar Thorsen. The Nordic Model of Social Democracy. Palgrave Macmillan, 2013. ISBN 1137013265
- Pontusson, Jonas (2011). Once Again A Model: Nordic Social Democracy in a Globalized World. pp 89-115 in What's Left of the Left: Democrats and Social Democrats in Challenging Times. Edited by James E. Cronin , George W. Ross, and James Shoch. Duke University Press. ISBN 0822350793.
- "The surprising ingredients of Swedish success - free markets and social cohesion" (PDF). Institute of Economic Affairs. June 25, 2013. Retrieved January 15, 2014. Italic or bold markup not allowed in:
- James E. McWhinney (June 25, 2013). "The Nordic Model: Pros and Cons". Investopedia. Retrieved September 16, 2015.
The Nordic model is a term coined to capture the unique combination of free market capitalism and social benefits that have given rise to a society that enjoys a host of top-quality services, including free education and free healthcare, as well as generous, guaranteed pension payments for retirees. These benefits are funded by taxpayers and administered by the government for the benefit of all citizens.