Nordic countries

The Nordic countries are a geographical and cultural region in Northern Europe and the North Atlantic, where it is most commonly known as Norden. It consists of five countries (Denmark, Finland, Iceland, Norway, and Sweden) as well as their autonomous regions (the Åland Islands, the Faroe Islands, and Greenland). The Nordic countries have much in common in their way of life, history, their use of Scandinavian languages and social structure. Politically, Nordic countries do not form a separate entity, but they co-operate in the Nordic Council. Especially in English, Scandinavia is sometimes used as a synonym for the Nordic countries, but that term more properly refers to the three monarchies of Denmark, Norway, and Sweden. Scandinavian Peninsula on the other hand covers mainland Norway and Sweden as well as the northernmost part of Finland.

At 3,425,804 square kilometers, the combined area of the Nordic countries would form the 7th-largest country in the world. Uninhabitable icecaps and glaciers comprise about half of this area, mostly in Greenland. In January 2013, the region had a population of around 26 million people. The Nordic countries cluster near the top in numerous metrics of national performance, including education, economic competitiveness, civil liberties, quality of life, and human development.

Nordic

Nordic commonly refers to:

Nordic may also refer to:

Synonym for Scandinavian or Norse

Relating to a racial category

Sports

Nordic model

The Nordic model (also called Nordic capitalism or Nordic social democracy) refers to the economic and social policies common to the Nordic countries (Denmark, Finland, Norway, Iceland and Sweden). This includes a combination of free market capitalism with a comprehensive welfare state and collective bargaining at the national level.

Although there are significant differences among the Nordic countries, they all share some common traits. These include support for a "universalist" welfare state aimed specifically at enhancing individual autonomy and promoting social mobility; a corporatist system involving a tripartite arrangement where representatives of labor and employers negotiate wages and labor market policy mediated by the government; and a commitment to widespread private ownership, free markets and free trade.

Each of the Nordic countries has its own economic and social models, sometimes with large differences from its neighbours. According to sociologist Lane Kenworthy, in the context of the Nordic model, "social democracy" refers to a set of policies for promoting economic security and opportunity within the framework of capitalism rather than a system to replace capitalism.