Comparative Economic System Analysis in the Context of Northern Regional Economies

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Abstract

This article introduces a comparative approach to an analysis of economic systems by the use of the most comprehensive and coherent data available. Thus these data limitations give us a historical insight into a cross section of data about a decade ago. The regional economies of the North (the Arctic and Subarctic) are classified as the following three main systems: Modified people’s market capitalism (Alaska), North Scandinavian welfare market systems and etatism comprising of remnants of the classical Soviet system in the Russian North and the transfer economies of Nunavut and Greenland. Comparing the systems statistically opens up for a debate whether there is a tradeoff between neo-classical efficiency appearing in growth and productivity data on one hand, and on the other hand human development and unemployment data. Or is there in the Northern Scandinavian welfare market systems a synergy between human development and unemployment and so-called economic efficiency?
Original languageEnglish
Publication date2016
Number of pages26
Publication statusPublished - 2016

Keywords

  • Comparative Economic Systems
  • statistical analysis
  • Arctic Regions

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