I don't always agree with him, but there is no doubt in my mind that the wealth of Sweden is not due to any policies pursued by the SAP. There is also no doubt in my mind that the confiscatory taxation of the 70s and 80s and the extreme taxation on capital formation by small business owners in Sweden have been, and still are, a considerable drag on the Swedish economy. Since the 60s, Sweden has been outperformed by not just the US and the Swiss, but by a very large number of countries. With regard to the financial sector I think you are right. We had a major banking crises in Sweden in the early 90s, as I am sure you know, and the Swedish banks have tended to be slightly less reckless this time (although the jury is still out - our housing bubble hasn't burst yet, and some of the Swedish banks have exposures to the Baltic countries).