Is Finland still a utopia? I used to fantasise about moving there, but lately I’ve been hearing about wage stagnation and cost of living increases that somewhat dent the overall happiness score.
Finland never recovered from the 2008 financial crisis, and covid + the end of trade with russia has damaged the economy badly and made public debt balloon heavily. Right now unemployment is about 10%, the 2nd highest in the EU, and the far-right coalition goverment that won the last election is trying to privatize healthcare and disempower unions.
The education system has been getting worse for about the past 15-20 years due to misguided reform attempts (and of course endless budget cuts)
Finland’s birth rate dropped below replacement levels about 50 years ago and has been in freefall for about the last 10 years, and now the population pyramid is starting to be in really bad shape, which means the economic situation is likely just going to get worse and worse.
The retirement savings system is designed like a (partial) ponzi scheme due to aforementioned population dynamics, and participation is mandatory so it is effectively a hidden tax on all workers. Due to old people having the majority of the votes, it’s the one thing that is immune from budget cuts, which forces the government to sell publicly owned infrastructure and dismantle public services in a futile effort to compensate.
Or you can reincarnate in Finland 🤷♂️
Is Finland still a utopia? I used to fantasise about moving there, but lately I’ve been hearing about wage stagnation and cost of living increases that somewhat dent the overall happiness score.
Finland never recovered from the 2008 financial crisis, and covid + the end of trade with russia has damaged the economy badly and made public debt balloon heavily. Right now unemployment is about 10%, the 2nd highest in the EU, and the far-right coalition goverment that won the last election is trying to privatize healthcare and disempower unions.
The education system has been getting worse for about the past 15-20 years due to misguided reform attempts (and of course endless budget cuts)
Finland’s birth rate dropped below replacement levels about 50 years ago and has been in freefall for about the last 10 years, and now the population pyramid is starting to be in really bad shape, which means the economic situation is likely just going to get worse and worse.
The retirement savings system is designed like a (partial) ponzi scheme due to aforementioned population dynamics, and participation is mandatory so it is effectively a hidden tax on all workers. Due to old people having the majority of the votes, it’s the one thing that is immune from budget cuts, which forces the government to sell publicly owned infrastructure and dismantle public services in a futile effort to compensate.
So ends another fantasy. Thank you for this exceptionally well written bucket of ice water.
Sauna and perkele? I’m in!