What’s Gone Wrong with Finland’s Economy?
Posted by noNudesPrettyPlease
What’s Gone Wrong with Finland’s Economy?
Posted by noNudesPrettyPlease
10 Comments
Short version, too few people work, too many elderly, productivity is low, exports are low, and the government spends much more than it makes.
We are spending like a rich country but have stopped being one over a decade ago. Consequences will follow soon.
Room temperature level IQ government officials and greed to top it off
Oh yeah, let’s have *Yet Another Infographics Channel* ^(TM) pretend they know economics and can tell about the complexities of a whole country’s economy ! (With generic data plots here and there, because they always look good in videos.)
Finland’s biggest long-term economic problem is brutally simple: there is not enough workers. And (Finnish) population is aging fast, birth rates are collapsing (Finns), and the workforce is shrinking year after year (Finns).
The country desperately needs skilled work-based immigrants just to keep the economy functioning. But the shittiest government after war keeps making Finland less attractive to exactly thos. Harder residency rules, uncertainty around permits. I see it’s like watching a country sabotage itself in slow motion. Hopefully PS goes deep down with their shitty shit in nect election.
You can’t complain about labor shortages, weak growth and pension costs while simultaneously pushing away engineers, nurses, software developers and taxpayers who would actually help solve those problems. But also the refugees should be integrated better (i.e. Somalis, Iraq, Syria…). Ugly numbers in unemployment especially women’s, no military service done, not even will to work.
A small export economy with a shrinking workforce does not magically grow on its own. Our aces – paper mills, Nokia, hi-tech generally have taken big punches into face. Russia’s-trade is in halt, which is in Finland a big thing compared to other Nordics.
Nokia fell finland fell. Imagine population of maybe less then 5M and Nokia bringing billions of wealth.
The video frames Orpo’s austerity as painful but necessary.
Austerity has been debunked countles times by now. If you care about debt to gdp ratio the state has to invest MORE more when the economy slows down (ideally in high multiplier areas like education or purchasing power for the low & middle incomes) not less.
When private people and companies spend less we need the government to spend more. It’s simple book-keeping.
Also tax cuts for the highest incomes does not have a high multiplier
Sanna Marin & mamut.
Cutting on education as a small country is setting yourself up for someone to outsmart you
For decades out leaders have been doing a poor job ensuring that there are proper conditions for actual productive work, research and development to prosper. Gotta have a real economy, driving around delivering pizzas and other pointless jobs don’t produce anything of value. The country lives from exports, this was always something everyone agreed on but it’s barely even mentioned.
And obviously Finland should have been more active in safeguarding its own interests and making business deals. Global competition is a fact and the goal is to be on winner’s side…
The current wannabe MAGA government