SOCIOLOGY

Denmark: Globalization & the Welfare State

Contents

Executive Summary3

Introduction5

Literature Review5

External Analysis6

Internal Influence8

Impact of globalization9

Globalization influences on policies and decision making in Denmark12

Effectiveness of Denmark's response13

Areas for improvement in the response of Denmark14

Conclusion16

References18

Denmark: Globalization & the Welfare State

Executive Summary

This report examines the globalization, It discuss and investigate the influence of globalization on Danish economy, Initially it will focus on four impacts of globalization resulted due to the European economic integration, Economic integration is part of the globalization, Report will also analyze economic integration and its advantages and disadvantages, Case study named Globalization and the welfare state, With the help of this case study one can identify the influence of globalization on Denmark. Denmark was eye-catching country for many immigrants because of its different and unique combination of high welfare spending. Private sector helped Denmark for boosting their growth; it is one of the efficient and enormous sectors of Danish economy. The flourishing public sector helped Denmark in overcoming two decades challenge of unemployment, new fiscal policy and labor reforms contributed to lower down un-employment up to 3.3%. Globalization also helped Denmark in maintaining Current account surplus; Whereas GDP per capita was around sixty thousand dollars. Purchasing power parity level of thirty four thousand seven hundred dollars helped Denmark in becoming the seventh wealthiest nation in world, Globalization also helped Danish economy in having progressive taxes and redistributive policies, helping Denmark in distributing income equally. Due to this equality of distribution economic intelligence unit ranked Denmark income distribution process most equal, and Denmark was ranked as one of the best place or hub for conducting business. Globalization provided substantial growth to Denmark and helped them in boosting their economy, whereas, there are some of the disadvantages which impacted the Danish economy, these dimension or disadvantages include reduction in the range and effectiveness of national economic policy.

Due to the reduction the effectiveness of national economic policy, pressure built up on the Danish industrial sector, it was eminent to restructure industrial sector, whereas apparently reduction on the welfare and some of the ideological implication of globalization affected the Danish economy and developed a neo-liberal system, it was predominant. On the other hand, in this report Denmark have been considered as an example for Scandinavian welfare state and for many other European states, report have also emphasized on Denmark economic custom. Whereas, Case study is concerned this case study helps us and shows the transition process of Denmark. This transition process highlights the challenges faced by Denmark and its response to those challenges regarding globalization, whereas it highlights the importance of Scandinavian welfare model. Report highlights the different national characteristics of Denmark as well, with the help of defining the impact of globalization considering it as a successful strategy. Reports also highlights the indicates the transformation of Denmark into neo-liberal ideas, with the help these ideas Danish economy negotiated the consideration which helped them in leading to a political disruption, these political were essential elements in challenging the transition process and fundamental elements of ...