I guess it's a choice between having higher wages for the privileged few versus having somewhat lower wages for them but better liveability for all the rest of the people in society. Different societies have a different view on which point in the continuum to aim for.
Yes, that's it.
My vision is to have liveability for all. Sweden, Finland, Danmark, Austria, for example, are top of the society for me. They dont have anyone in the top 20 of the richest mens in the world, but they almost dont have poverty.
Having 15 of the 20 richest mens in the world in one side and 50000000 persons on poverty on the same country dont seems good for me.
Theres the old "they worked for it". But does really anyone works 1000 more than an employee? Does anyone really values 131 billions?
I value american capitalism and work ethic, but the inequality reached too far and people are suffering with that. And with this approach it will get worst: big groups will get bigger, AI will come strongly, Asia is getting huge, a new economic world crisis will come sooner or later...
I mean, all of the Nordic countries do well, don't get me wrong, but I would never want to live there.
There is lots of talk about (marginally) higher median incomes and low-inequality, but if you are in the top 3/4 of the US or Canada, you are way better off to be honest.
The cost of living compared to income is insane in all of those countries.
Many of them (especially norway) are incredibly dependant on oil/gas and natural resource exporting which will all be vulnerable for a long time.
The US has some issues with wage discrepancy, and it does have a problem with a percentage of people falling through the cracks, but for the vast majority (not just the richest 15-20 people) I think the numbers would easily bear out that the standard of living is much higher in the US, and there is a much more diversified resilient economy positioned much better for the future.
The Nordics is not the right place for everyone, and life here is not perfect. I'm a big fan of our wealth tax (and other taxes), but fully understand that it is a valid argument for not moving here. So is the cold, darkness, and introvert society. But I'm struggling to understand a few of your points:
1) As far as I know, only Norway (oil and fish) and the Faroes (fish) are dependent on exporting natural resources (and there are some aspects of the culture in those two countries that makes the story a bit more complex, including a big fund of FU money, high education rates, ingrained traditions for frugality, and high mobility within the Nordics). Or do you know something about Denmark, Sweden, Iceland, Finland, Åland or Greenland that I don't?
2) Standard of living being higher in the US: Yes, our highest wages are lower, and cost of living is high, especially for unhealthy stuff like alcohol, tobacco and sugar. But the fish in the sea and the berries in the forest are free, and I don't have to splurge on organic meat since all our cows have a right to soft beds and summer holidays. The environment is (mostly) clean, and I can walk whereever I want without being afraid for my safety. If I moved to the US, I can't imagine feeling my standard of living had improved because I got access to cheaper alcohol? Or is there something else I'm missing? I think I've heard foreigners complaining about nail salongs being very expensive here, along with similar "luxuries". Maybe it is my socialist upbringing (no sarcasm: walked my first Workers' Day parade at age 1) that makes me not include those types of things in my personal definition of standard of living.
I'm sure there are valid arguments on why standard of living would be better in the US, but my gut reaction to this statement is unfortunately colored by the report by the Trump administration from last year, that used the price of pickup trucks as a measurement of living standard:
https://www.bloomberg.com/news/articles/2018-10-29/trump-experts-decrying-nordic-socialism-trigger-angry-response This article in english says a bit about how the report was received in Denmark
https://www.bloomberg.com/news/articles/2018-10-29/trump-experts-decrying-nordic-socialism-trigger-angry-response, while this fact check (in Norwegian) goes more in detail:
https://www.nrk.no/norge/det-hvite-hus-bommet-med-rapport-om-nordisk-levestandard-1.14302603I guess it always comes back to politics and ideology. My quality of life is better when I live in a country where I pay a lot of taxes but don't have to worry about the cost of education or healthcare. A clean environment is important for me, so I think it is perfectly fine to have more than 100 % taxes on gas guzzling pickup trucks (would have preferred to ban them outright, but babysteps...). I think it is better for my society if less people smoke or drink, and fully support massive taxes on unhealthy stuff to make back some of the cost for healthcare. And I think pedicures, manicures, spas, and other types of "luxury" things are completely stupid and hate "being pampered", so I couldn't care less if it costs a lot to get those types of services (especially since the high cost is due to decent wages).
On the other hand, if freedom to control your own money is more important to you, the Nordic model simply isn't your cup of tea. And that is fine. But is that the case for 3/4 of people in the US and Canada?