- published: 13 Feb 2015
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Slovakia's economy increasingly resembles that of a so-called developed country. With the highest sustained GDP growth in the European Union, reporting 10.4% in 2007 and the highest rating from V4 countries, the Slovak economy has been considered a tiger economy known as the Tatra Tiger. Slovakia has been an EU member state since 2004 and adopted the euro currency at the beginning of 2009. Its capital, Bratislava, is the largest financial centre in Slovakia. Unemployment has fallen considerably, although long-term unemployment remains high. In the long term, improving education outcomes, including by reducing the impact of socioeconomic background on outcomes, will be central to sustaining high economic growth and social cohesion. GDP per capita at purchasing power parity was €18,100 in 2010, which was 74% of the EU average [1].
Since the establishment of the Slovak Republic in January 1993, Slovakia has undergone a transition from a centrally planned economy to a free market economy, a process which some observers believe was slowed in the 1994-98 period due to the crony capitalism and other fiscal policies of Prime Minister Vladimír Mečiar's government. While economic growth and other fundamentals improved steadily during Mečiar's term, public and private debt and trade deficits also rose, and privatization was uneven. Real annual GDP growth peaked at 6.5% in 1995 but declined to 1.3% in 1999.
The Slovak Republic (short form: Slovakia i/sloʊˈvɑːkiə/ or /sləˈvækiə/; Slovak: Slovensko (help·info), long form Slovenská republika (help·info)) is a landlocked state in Central Europe. It has a population of over five million and an area of about 49,000 square kilometres (19,000 sq mi). Slovakia is bordered by the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east and Hungary to the south. The largest city is the capital, Bratislava, and the second largest is Košice. Slovakia is a member state of the European Union, NATO, United Nations, OECD and WTO among others. The official language is Slovak, a member of the Slavic language family.
The Slavs arrived in the territory of present day Slovakia in the 5th and 6th centuries during the migration period. In the course of history, various parts of today's Slovakia belonged to Samo's Empire (the first known political unit of Slavs), Principality of Nitra (as independent polity, as part of Great Moravia and as part of Hungarian Kingdom), Great Moravia, Kingdom of Hungary, the Austro-Hungarian Empire or Habsburg Empire, and Czechoslovakia. A separate Slovak state briefly existed during World War II, during which Slovakia was a dependency of Nazi Germany between 1939 and 1944. From 1945 Slovakia once again became a part of Czechoslovakia. The present-day Slovakia became an independent state on 1 January 1993 after the peaceful dissolution of Czechoslovakia.
Johan Norberg (born 27 August 1973) is a Swedish author and historian, devoted to promoting economic globalization and liberal positions. He is arguably most known as the author of In Defense of Global Capitalism. Since March 15, 2007 he has been a senior fellow at the Cato Institute.
Johan Norberg was born in Stockholm, the son of former Swedish National Archivist Erik Norberg and his wife Birgitta. He grew up in the suburb of Hässelby in northern Stockholm. In his youth, Norberg was active as a left-anarchist but later abandoned those views and became a classical liberal. According to the biography given at his personal website, Norberg was disillusioned with the anarchist view of liberty when he discovered the collectivist themes in the major anarchist works, and was unable to sympathize with the pre-industrial society which its anarcho-primitivism promoted. This realization made him embrace classical liberalism, which he felt "took freedom seriously". He studied at Stockholm University from 1992 to 1999 and earned a M.A. with a major in the history of ideas. His other subjects included philosophy, literature and political science. During his time at Stockholm University he was active in the libertarian network Frihetsfronten ("the Liberty Front") and was the editor of its journal Nyliberalen ("The Neoliberal"/"The Libertarian") from 1993 to 1997.