After World War II
Property rights were strong. While nationalization committees were set up in France and the United Kingdom, Finland avoided nationalizations. After failed experiments with protectionism, Finland eased restrictions and concluded a free trade agreement with the European Community in 1973, making its markets more competitive. Local education markets expanded and an increasing number of Finns also went abroad to study in the United States or Western Europe, bringing back advanced skills. There was a quite common, but pragmatic-minded, credit and investment cooperation by state and corporations, though it was considered with suspicion. Support for capitalism was widespread. Savings rate hovered among the world's highest, at around 8% until the 80s. In the beginning of the 1970s, Finland's GDP per capita reached the level of Japan and the UK. Finland's economic development shared many aspects with export-led Asian countries.
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Famous quotes containing the words world and/or war:
“There is the eternal war between those who are in the world for what they can get out of it and those who are in the world to make it a better place for everybody to live in.”
—George Bernard Shaw (18561950)
“At Flores in the Azores Sir Richard Grenville lay,
And a pinnace, like a fluttered bird, came flying from far away:
Spanish ships of war at sea! we have sighted fifty-three!”
—Alfred Tennyson (18091892)