How Does Finland Redefine Economic Success? 🇫🇮

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Despite having very high taxes compared with other developed countries, Finland has become a very successful country that tops a lot of global leaderboards for education, safety and social security. After the collapse of the Soviet block their economy struggled, so how they they go from a disconnected and under-utilised economies to a powerhouse in Europe?

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[yggwjed]

EE completely overlooked Finland's most important contribution to the world. Only the Fins can successfully make it all the way around a hairpin bend in Winter, on a gravel road, and without slowing down. This crucial skill adds 1.5 to Finland's overall score. Thus, in reality, Finland is fourth on the Leaderboard.

[daniellarson]

Finland recently completed the construction of a large nuclear plant. This means they will not have to import as much natural gas or other fuels. They are also the only country that has built a repository for high level nuclear waste. Certainly, their last nuclear plant was expensive, but in these inflationary times, that cost will certainly be inconsequential over time. Building that plant seems forward thinking.

[Firzenizer]

Nokia had a huge impact on Finnish economy. Their share of Finnish exports were like 20% for 10 years row. Not to mention all the indirect effects. For years Nokia employed like 1% of the population directly and who knows how many others indirectly. At best Nokia accounted for over 50% of the all patent applications in Finland.

[-AxisA-]

This is a video only a foreigner can make about Finland.

[michaelblakemutschler]

This is like the most soft-ball EE episode I've seen. "Finland is basically perfect, but must continue to be perfect or else they will risk becoming imperfect" 😅

[vandalpaulius]

Hey EE team! Love your videos, but this one felt a little bit about nothing. I mean the same information was repeated multiple times and it felt quite a bit of a downgrade from your regular videos

[teebrown]

This video was wordier than usual.
It took a lot of words to say very little.
Was it AI generated?

[Demiblood]

Your videos have recently pivoted away from insightful videos with detailed research to simple video summaries of countries not yet on your list. This takes away the quality aspect that made me watch in the first place.

[Libertarian]

Interesting video

I would love to see you doing a video on Finland's southern neighbor of Estonia

While its still poorer than its northern neighbor, its growth over the last 3 decades has been spectacular, and is quickly catching up with its northern neighbor

[jakubwijata]

I think EE discovered ChatGPT. Most “scripted” video yet.

[KeijoAmbersson]

EE, the way middle earner income tax is calculated maybe different from what I intrepret, but I'd say it is DEFINITELY NOT 46%.

I'm finnish, born and raised, work as an engineer in the mentioned forest tech industry. Here's rough example of my tax info.
I make 4k € a month, a bit more if we count the optional reward system my employer uses. That would make my hourly salary 25 € / h on a 40 hour workweek, which is bang on the average wage you claim here. And the workweek really is 40h. If we work more hours, the hours get banked and we can extract them later as days off, or paid out with overtime pay added on top.

My total tax% is 22%. If I earn over 50k a year due to bonuses etc. the tax rate for the amount over 50k will be 41, 5%. But ONLY for the amount OVER the yearly limit.
If I want a higher yearly limit, I can then pay a bit more over the year, say 23 or 24%.

So maybe you confused the income tax rate with the "penalty" tax rate for going over yearly earning limit? IDK.

But I feel like it's very IMPORTANT to get the correct idea to all kinds of political entities, that the price tag of Nordic social democracy is not as high as some people make it out to be and demonize it.

For North Americans etc. the tax rate may still sound high compared to the amount I earn. But remember, this level of taxes has also brought about ton of free public services.

Examples from my own life.
- My engineering degree was paid fully by the state. I only had to buy the books, and most of those you can get used.
- While I studied I focused on it during school season, worked during summer and holiday seasons. My income was subsidized by the goverment, with "student help" fund and housing fund. I also took some goverment backed studying loan with favorable interest. I paid it fully back after couple of years in the workforce, so the amount was nothing like the horror stories of USA student debts.
- I am type 1 diabetic (inherited diabetes). The state pays for most of my insulin, I only have to pay a small collateral couple of times per year.
- Public school education I received was very good, even in that small town shcool I attended.

I come from a low income rural household. Without these state support systems, I don't know how my life would have turned out.

EDIT: If we also add Pension and Social Security cost, they add 8, 65% to the tax rate. So my total income deductions are 30, 65%. I don't know why finnish salary data keeps these separate, did not mean to mislead. People have also pointed out that there are costs on employer side, which is true.
I do maintain the benefits far outweight the costs as long as the tax money goes to correct places. Education, healthcare etc. And the pricetag for the average voter joe still isn't nearly as bad as some would make you believe.

[NILS]

I'm a Finn and during most of this video I went like "wat".

[evan]

I was super impressed by my recent trip to Tampere, Finland but lord the amount of snow was INSANE

[wsxgfhccr]

"newcomers arriving from a diverse range of countries"

Yeah I'm sure underdeveloped, Middle Eastern countries are very diverse

[Luminon]

This edition was a bit generic as far as these things go, could just as well have been a list of Finish government talking points. Also at 1:35 I was surprised to see the lack of growth over the last decade pass by unremarked.

[philipberthiaume]

Finland bases speeding tickets, perhaps more, on someone's income instead of a flat fee. This forces ppl of all income brakets to pay equally for breaking traffic law. There have been tickets assessed in the hundreds of thousands USD. In a poll, 2/3rds of Canadians were also supportive of a similar system.

[xeozim]

Finnish universities hold spots 101, 201, 401, 501, 601, 701, and 801 on the world ranking that's so weird

[BezJones]

It's in the 94th percentile of gdp per capita but gets an 8 out of 10? Shouldn't it get at least a 9?

[swordcat]

Was this written or read by an AI? feels different from your other videos

[mikkolukas]

Finland is also quite strong within tech and game development