Celebrating Social Welfare

Iceland's charming President Ólafur Grímsson's free market talk explains how northern European countries such as Denmark, Iceland, Sweden, Finland and Norway are successfully thriving in a social welfare system. Adopting a social welfare model is a key method to help a country create a resistant economic growth foundation.

According to Grímsson, social welfare economies thrive because citizens from any class, income level or status can access the same high quality healthcare, education and economic treatment. This fairness and equality boasts an economy that is set up to succeed by equipping all citizens with the tools they need to flourish. On a larger scale, each of these five countries have grown to have large-scale companies and markets that rival many of those in opposite ends of the world. "To provide everybody with a right to education and healthcare," Grímsson says, "is a formula for economic and business success."