Dear John,

Despite common misperceptions, high levels of economic freedom — that is, relying more on entrepreneurs, businessowners and workers to make economic decisions rather than politicians and bureaucrats — drive Denmark’s high living standards.

The Realities of Socialism is a project by the Fraser Institute and a group of think tanks in the UK, Australia, and the United States.

Following our books on Poland and Sweden, today we have released the third book in the series, on Denmark.

The Danish experience shows both the benefits on relying on markets and the costs of increasing the role of government:

• Historical Prosperity: Denmark experienced prosperity from the mid-1850s to the 1970s due to small government, light regulations, low taxes, and open trade.
• Government Expansion and Economic Challenges: From 1970 to 1995, government spending increased dramatically, leading to economic stagnation, rising inflation, and unemployment.
• Reforms and Economic Recovery: Policymakers recognized the need for change and began reducing government spending, which helped limit deficits, decrease government debt, lower inflation, and stabilize interest rates.

Denmark's incredible economic performance continues and ranks 7th in the 2023 economic freedom rankings!

Learn more and download the entire book – for free – at RealitiesOfSocialism.org.

Sincerely,

Niels Veldhuis
President
The Fraser Institute