This column argues Nordic-style capitalism may provide higher welfare but in an interconnected world, it may be the cut-throat US capitalism, with its extant inequalities, that makes possible the existence of more cuddly Nordic societies.
What does it matter that the US economy is 'viewed' as a more innovative one? Also, I'm not buying the author's thesis that the heightened inequality in the United States drives innovation here. It sounds like the same old hackneyed libertarian talking points wrapped up in a bunch of 7 dollar words to make them sound more palatable. What's the point of a country being 'richer' if the wealth created immediately flows to and stops in the hands of a few hyperwealthy oligarchs?