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Nordic Socialism
The Path Toward a Democratic Economy
Pelle Dragsted
Translated by William Banks
“A powerful and incisive analysis of modern capitalism, and an inspiring assessment of the forces aligned against it. Dragsted demonstrates that democratic socialism is the only way out of the mess we’re in—and shows how we can all start building it right now.”
—Grace Blakeley, author of Vulture Capitalism: Corporate Crimes, Backdoor Bailouts, and the Death of Freedom
What if an alternative to capitalism is possible and practical—and already here?
In recent years, the Nordic countries have been the envy of the world for their economic success, their institutional stability, and their consistently high levels of social happiness. But are they socialist? Some prominent members of the American Right certainly think so, and in this book they may find a surprising ally. Pelle Dragsted is a member of the Danish parliament and the leader of the socialist political party Enhedslisten (red-green alliance). Contrary to most Nordic leaders, Dragsted accepts the charge of socialism and delivers a clarion call to lean into that description.
In Dragsted’s studied conclusion, Denmark and the rest of the Nordic countries are indeed already socialist, but only in part. The dangers faced by Norden come (and here many conservative American commentators will disagree) from the unhealthy encroachment of capitalism. His provocative starting argument is that capitalism and socialism are not in fact mutually exclusive, and already Nordic economies are hybrids, a mix of de-commodified, democratically governed sectors and undemocratic, privately controlled enterprises. The relevant question is the degree to which one dominates the other. Currently, undemocratic forces are ascendant, but it need not be so. Here, Dragsted offers both his diagnosis and his proposed solution, a comprehensive plan for a gradual (re)democratization of the economy and a move to fully and firmly embrace, and redefine, the charge of “Nordic socialism.”
Pelle Dragsted is the leader of the Enhedslisten party in Denmark and a representative in the Folketing. He is the author of Nordisk Socialisme: På vej mod en demokratisk økonomi, which was first published in Danish to great acclaim.
 William Banks is the editor and translator of The Great Debate: Nietzsche, Culture, and the Scandinavian Welfare Society by Georg Brandes and Harald Høffding and Human Rights and Oppressed Peoples: Collected Essays and Speeches by Georg Brandes.
Praise
“Dragsted offers a thought-provoking exploration of the critical role of democracy in societal well-being—something overlooked by many self-professed capitalists in the U.S. What he calls ‘Nordic socialism,’ I call ‘Nordic capitalism,’ laying the foundation for a great debate on our economic and democratic future.”
—Robert Strand, author of Nordic Capitalism: Lessons for Realizing Sustainable Capitalism
“Stimulating for the political imagination and thus deeply engaging. . . . Breaks with worn-out ideas from the past and points to a new way forward for the Left.”
—Information, praise for the Danish edition
“A powerful, important, and inspiring work with which all those who struggle against inequality and for greater democracy must engage. Regardless of whether one agrees or not.”
—Politiken, praise for the Danish edition
Table of Contents
Foreword by Matt Bruenig
Preface
Introduction
1. Diagnosis: Capitalism Is Oligarchic and Unsustainable
2. Change: Reformed Capitalism, Revolution or Erosion
3. The Communal Economy: A Part of Our History
4. Nordic Democratic Socialism
5. Ten Reforms Toward a Democratic Nordic Socialism
Conclusion: Questions and Answers for Nordic Socialism
Postscript
Notes
Index
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Larger images
August 2025
256 pp. 6 x 9
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