Sweden 'literally gained nothing' from staying open during COVID-19, including 'no economic gains'


In the messy panoply of global responses to the COVID-19 pandemic, Sweden stands out. Unlike its Nordic and European peers, Sweden decided early on for a "soft" approach, forgoing lockdowns for subtle changes to commerce and entertainment, voluntary mitigation guidelines, and encouraging working from home. "This is what has happened," economic correspondent Peter S. Goodman reports in The New York Times: "Not only have thousands more people died than in neighboring countries that imposed lockdowns, but Sweden's economy has fared little better."
"They literally gained nothing," Jacob Kirkegaard, a senior fellow at the Peterson Institute for International Economics, tells the Times. "It's a self-inflicted wound, and they have no economic gains." Sweden did see slightly less contraction in the first quarter, but now its economic pain is essentially equal to its Nordic neighbors. And Norway, which "was not only quick to impose an aggressive lockdown, but early to relax it as the virus slowed," is actually "expected to see a more rapid economic turnaround," Goodman reports.
Ironically, Bloomberg News reports, the social distancing requirements in Sweden are now more stringent than in Denmark, Norway, and Finland, all of which opted for strict lockdowns early on. Sweden's 5,420 COVID-19 deaths may not seem like much compared with 130,000 in the U.S., but per capita that works out to 40 percent more fatalities than in the U.S. and 12 times more than Norway, seven times more than Finland, and six times more than Denmark, the Times notes.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Johan Carlson, the head of Sweden's public health agency, said Tuesday that his country's declining rate of infections and patients in intensive care "is an effect of us keeping up the social distancing," though herd immunity "could definitely be playing a part in areas where we've had contagion." And Sweden's state epidemiologist, Anders Tegnell, maintains that his strategy is still more sustainable and will pay off in the long run.
And maybe it will. But three months into the pandemic, "Sweden's grim result — more death, and nearly equal economic damage — suggests that the supposed choice between lives and paychecks is a false one," Goodman writes. "It is simplistic to portray government actions such as quarantines as the cause of economic damage. The real culprit is the virus itself," and "a failure to impose social distancing can cost lives and jobs at the same time."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
Starlink: what Elon Musk's satellite soft power means for the world
The Explainer The rapid expansion of his satellite internet company has given Musk a unique form of leverage in some of the world's most vulnerable regions
-
Lilo & Stitch: is Disney's latest live-action remake a 'ghastly misfire'?
Talking Point The studio's retelling of the 2002 original flattens its fuzzy blue protagonist – but could still be a box office smash
-
A manga predicting a natural disaster is affecting tourism to Japan
Under the Radar The 1999 book originally warned of a disaster that would befall Japan in 2011 — a prophecy that came true
-
Crypto firm Coinbase hacked, faces SEC scrutiny
Speed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress code
speed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirement
speed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff display
Speed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loom
Speed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panels
Speed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of business
Speed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect