03724nam 2200577 450 991079311950332120200520144314.01-5017-2612-91-5017-2611-010.1515/9781501726118(CKB)4100000007005384(MiAaPQ)EBC5541088(OCoLC)1031049776(MdBmJHUP)muse67650(StDuBDS)EDZ0002048816(DE-B1597)503425(DE-B1597)9781501726118(Au-PeEL)EBL5541088(EXLCZ)99410000000700538420181024d2018 uy 0engurcnu||||||||txtrdacontentcrdamediacrrdacarrierGood governance gone bad how Nordic adaptability leads to excess /Darius OrnstonIthaca ;London :Cornell University Press,2018.1 online resource (276 pages)Cornell studies in political economyPreviously issued in print: 2018.1-5017-3017-7 1-5017-2610-2 Includes bibliographical references and index.Introduction : the Nordic paradox -- Good governance gone bad : the politics of overshooting in Nordic Europe -- Manufacturing a crisis : the politics of planning in Sweden -- Connecting people : the politics of innovation in Finland -- From banking on fish to fishy banks : the politics of liberalization in Iceland -- Contrasting cases : Austria, Switzerland, Greece, and Portugal -- Overshooting outside of Nordic Europe : Ireland and Estonia -- Conclusion : lessons for large states.If we believe that the small, open economies of Nordic Europe are paragons of good governance, why are they so prone to economic crisis? In Good Governance Gone Bad, Darius Ornston provides evidence that adapting flexibly to rapid, technological change and shifting patterns of economic competition may be a great virtue, but it does not prevent countries from making strikingly poor policy choices and suffering devastating results. Home to three of the "big five" financial crises in the twentieth century, Nordic Europe in the new millennium has witnessed a housing bubble in Denmark, the collapse of the Finnish ICT industry, and the Icelandic financial crisis.Ornston argues that the reason for these two seemingly contradictory phenomena is one and the same. The dense, cohesive relationships that enable these countries to respond to crisis with radical reform render them vulnerable to policy overshooting and overinvestment. Good Governance Gone Bad tests this argument by examining the rise and decline of heavy industry in postwar Sweden, the emergence and disruption of the Finnish ICT industry, and Iceland's impressive but short-lived reign as a financial powerhouse as well as ten similar and contrasting cases across Europe and North America. Ornston demonstrates how small and large states alike can learn from the Nordic experience, providing a valuable corrective to uncritical praise for the "Nordic model."Cornell studies in political economy.States, SmallEconomic policyScandinaviaEconomic policyEuropeEconomic policyScandinaviaEconomic conditions21st centuryEuropeEconomic conditions21st centuryStates, SmallEconomic policy.338.0948Ornston Darius1978-1521421MiAaPQMiAaPQMiAaPQBOOK9910793119503321Good governance gone bad3760563UNINA