hISTORY eNDS EVERYWHERE:
How ‘egalitarian’ Sweden became more comfortable with wealth (Håkan Johansson & Axel Vikström, September 8, 2026, The Conversation)
While for a long time Sweden was a country with some of the world’s highest taxes, this no longer applies to capital taxation. For instance, it no longer has a wealth tax, an inheritance tax or a property tax. The ideal of egalitarianism doesn’t seem to align with patterns of wealth accumulation, especially at the very top. […]
We used Forbes and UN data and found that in 2025 Sweden ranked fourth globally, with 4.7 dollar billionaires per million people. When excluding micro-states (fewer than one million people), Sweden is outnumbered only by Singapore (9.9), Hong Kong (9.1) and Cyprus (7.3), but before Switzerland (4.6) in fifth place. It ranks much higher than some of the world’s largest economies like the US (2.7), Germany (2.1), Canada (2.0) and the UK (0.8).It is difficult to say for sure whether changes in regulation and wealth concentration have altered cultural norms, but there are clear indicators. Younger generations are now expressing strong materialistic values. When they rank what matters in life, earning money comes second to being with friends and far more important than being with family or getting an education.
Young Swedes and adults alike dream of building a “money machine” by investing in stocks so they can exit the labour market long before retirement. This might be surprising to some, since Sweden has long been shaped by a strong work ethic, both politically and culturally.
