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One of most open
economies in world
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>1/2 GDP traded
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More than US, more than any country in
course, more than Japan
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Welfare State
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Various social
insurance & welfare schemes come to about 20% GDP
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About 2 times U.S.
rate - cut substantially 1990s
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Over half government
expenditure (which is 60% GDP) is transfer payments
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Comprehensive free
medical care
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Pension system
‑ 2/3 earnings
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Sick leave, cut in
1991 but still most generous in Europe and thus highest rate of sick time in
Europe
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Parental leave
‑ pay up to 13 months for couple to share. 80% earnings up to $40,000 year. Government Commission looking for method to
convince men to take more parental leave
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Unemployment
benefits
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Up to 80% of wages but must accept training
and placement
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Since 1993 no pay for first five days
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Poverty virtually
non-existent
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Lowest rate of child poverty in the course
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¼ US rate of child poverty
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