NYT Continues
“There is just no questioning and no willingness from the Swedish government to really change tack, until it’s too late,” Mr. Kirkegaard said. “Which is astonishing, given that it’s been clear for quite some time that the economic gains that they claim to have gotten from this are just nonexistent.”
Norway, on the other hand, was not only quick to impose an aggressive lockdown, but early to relax it as the virus slowed, and as the government ramped up testing. It is now expected to see a more rapid economic turnaround.
Norway’s central bank predicts that its mainland economy — excluding the turbulent oil and gas sector — will contract by 3.9 percent this year. That amounts to a marked improvement over the 5.5 percent decline expected in the midst of the lockdown.
Sweden’s laissez faire approach does appear to have minimized the economic damage compared with its neighbors in the first three months of the year, according to an assessment by the
International Monetary Fund. But that effect has worn off as the force of the pandemic has swept through the global economy, and as Swedish consumers have voluntarily curbed their shopping anyway.
Researchers at the University of Copenhagen gained access to credit data from Danske Bank, one of the largest in Scandinavia. They studied spending patterns from mid-March, when Denmark put the clamps on the economy, to early April. The pandemic prompted Danes to reduce their spending 29 percent in that period, the study concluded. During the same weeks, consumers in Sweden — where freedom reigned — reduced their spending 25 percent.
Strikingly, older people — those over 70 — reduced their spending more in Sweden than in Denmark, perhaps concerned that the business-as-usual circumstances made going out especially risky.
So there you go - they've gained zero economically and lockdown or not people change their habits. No matter what a Govt tells you what you can do or not.
That's why restaurants and pubs and retail shops and hotels etc etc in UK are still struggling more than ever. Even without lockdown.
You can blame the Government as much as you want in UK etc
You can't blame the Government in Sweden though. And their economy and consume spending is doing as bad as everybody elses around them
As soon as the deaths started in Sweden - everybody stopped going out and spending even though they were allowed to still do so
A great experiment and example. But they've faced the same huge costs as everybody else. So please don't anyone pretend different.
The more deaths we start getting in UK again the less people will go out and spend. As it stands this might be the best we will see people spend money for a long time as people aren't scared at the moment as not much Covid around. Still being very cautious though
People see the news and what's happening elsewhere
Whether you like it or not. People choose what they do and what they spend their money on. Not governments.