Sweden: From Large Corporations towards a Knowledge-Intensive Economy

Christer Peterson

in Nordic Capitalisms and Globalization

Published in print January 2011 | ISBN: 9780199594535
Published online May 2011 | e-ISBN: 9780191724909 | DOI:
Sweden: From Large Corporations towards a Knowledge-Intensive Economy

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This chapter describes a national business system built on large-scale manufacturing. By a combination of capitalism and socialism a centralized welfare state emerged, renowned as the Swedish Model. The model became questioned during the 1970s due to the growing globalization. We describe the transition by following a mature industrial company in a stagnating hosting mill town in a peripheral part of the country. The company had through M&A and shake-ups become a pawn in a global game. Through a combination of institutionalized social and neo-corporatist processes, activated by home returnees, entrepreneurial knowledge-based initiatives, innovation system funding, and a new form of stakeholderism, new modes of business were developed, which turned around the whole eco-system. The chapter claims that this experimentally organized economy has become a decisive mechanism in the ongoing transition of Swedish business system.

Keywords: Swedish Model; corporatism; industrial service economy; local cluster; home returnee; innovation system; stakeholderism; experimentally organized economy

Chapter.  15101 words.  Illustrated.

Subjects: Political Economy

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