Sweden: Inflation in Utopia

Resource-rich, highly industrialized, welfare-loving Sweden has long enjoyed the highest living standard in Europe. Prices are stiff (76¢ for a pack of cigarettes, $9 for a fifth of Scotch, $1.50 per Ib. for hamburger), but after 32 years of unbroken and rising prosperity, Sweden's workers have grown so affluent that about all the tiny, obstreperous Communist Party could find to demand in the last election was "two houses for every family." Swedish families already own 375,000 vacation homes and 300,000 pleasure boats, as well as a car for every four persons. Domestic tranquility is rarely ruffled by labor trouble:...

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