History
In the 19th century Sweden evolved from a largely agricultural economy into the beginnings of an industrialized, urbanized country. Poverty was still widespread in sections of the population. However, incomes were sufficiently high to finance emigration to distant places, prompting a large portion of the country to leave, especially to the USA. Economic reforms and the creation of a modern economic system, banks and corporations were enacted during the latter half of the 19th century.
By the 1930s, Sweden had what Life magazine called in 1938 the "world's highest standard of living". Sweden was also the first country worldwide to recover completely from the Great Depression. Sweden declared itself neutral during both world wars, thereby avoiding much physical destruction like several other neutral countries. The post-war boom propelled Sweden to greater economic prosperity, putting the country in third place in per capita GDP rankings by 1970. Beginning in the 1970s and culminating with the deep recession of the early 1990s, Swedish standards of living developed less favorably than many other industrialized countries. Since the mid 1990s the economic performance has improved.
In 2009, Sweden had the world's ninth highest GDP per capita in nominal terms and was in 14th place in PPP terms.
Read more about this topic: Economy Of Sweden
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“In history an additional result is commonly produced by human actions beyond that which they aim at and obtain—that which they immediately recognize and desire. They gratify their own interest; but something further is thereby accomplished, latent in the actions in question, though not present to their consciousness, and not included in their design.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“A man will not need to study history to find out what is best for his own culture.”
—Henry David Thoreau (1817–1862)
“The second day of July 1776, will be the most memorable epoch in the history of America. I am apt to believe that it will be celebrated by succeeding generations as the great anniversary festival. It ought to be commemorated, as the day of deliverance, by solemn acts of devotion to God Almighty. It ought to be solemnized with pomp and parade, with shows, games, sports, guns, bells, bonfires and illuminations, from one end of this continent to the other, from this time forward forever more”
—John Adams (1735–1826)