VICTIMS OF FALSE CONSCIOUSNESS: Glenn Reynolds deflates the myth of a prosperous Sweden:
Though they think of themselves as prosperous, Swedes as a group are actually worse off than black Americans, according to this Swedish study. Swedes are trained from birth to view their society as a compassionate one in which everyone prospers, while the harsh capitalism of the United States makes some people rich and leaves other people destitute. Er, except that what it really does is make some people really, really rich, and leave other people just, well, richer than the Swedes. Best excerpt, highlighted by reader Todd Bass who sent this link:
“Black people, who have the lowest income in the United States, now have a higher standard of living than an ordinary Swedish household,” the HUI economists said.
If Sweden were a U.S. state, it would be the poorest measured by household gross income before taxes, Bergstrom and Gidehag said. . . .