Why Denmark is so rich! 🇩🇰
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- Опубліковано 7 чер 2024
- #denmark #denmark_success #denmarkeconomy #economy #economyofdenmark #economicsinaction #economics #denmarkrich
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In short "Trust" is the reason why Denmark is rich. Trust in the social contract between government and people and trust in each other, which cost far less than control.
well that trust is being ripped apart right now. We can no longer trust that our hard work leads to retirement or good public services because of outside interests and illegal immigrants and refugees straining the system. i for one believe its only a matter of time before this trust based system collapses due to cultural differences not giving a shit about this trust
@@FrederikEngelmand Forstår ikke hvad du mener med at illegale immigranter dræner det danske system. Danmark har økonomisk aldrig stået stærkere end vi gør nu. Den tillid vi har i Danmark til det offentlige og staten vil nok også forblive i fremtiden, immigranter bliver jo integreret med tiden og vænner sig til den danske måde at leve og tænke på. Hvis det ikke er tilfældet i den første generation af en immigrant familie, bliver det i den anden eller trejde generation.
"trust" - in the sad fact, that every time your state is broke, the Danes "suddenly" lose their lives...
First warming I got this time, was all the way back in 2005 and, since then and, countless direct treats on my life, the loss of almost all the other Danes who lived in my city (brutally murdered) as well as all the people who wanted to work with me...(26 so far, right Denmark!?)...and, questions we get here from countless other countries..."Denmark, they are the one's who crush their own in wast insenerstors, isn't,t it?" Yes it, people - and their children - are "just" raped to death..
Denmark and her Religions are clearly now, continuing what they were stopped in, in Poland and Ukraine back in WW2 - good money in slaughtering your own Denmark!?!!
Such a place can no longer be part of the population on our planet!! Absolutely not Holocaust Denmark 😰
@@FrederikEngelmandDenmark seldom pay retirement to any of their own living abroad and, property owned in the place is simply stolen etc etc
@@FrederikEngelmandThe Danish Government and Religions are destroying Denmark Frederik...nobody else!
Look at them and, you''ll get a lot of smiles and promises....Do not ever turn your back......and "Justice" in the place, must be the subjects from your universities from which I - all the way back in 1999,, witnessed these enjoying drugs in high doses...maybe this was when the Law Library was destroyed as well - if there ever was one!? By now these subjects purely turn all laws upside/down and laugh you straight into your face..fact is, many of them never really got a real degree in law...only the paper which, without real knowledge, has absolutely no value.."good" examples of this type of "knowledge" are Peter Bonnor - now "working" for the EU Ombudsman - NO education what-so-ever and, "professor" Vedsted-Hansen who have travelled Europe, "educating" people in, how to kill people without touching them ...both must be part of the ones some of your civil servants call the "smart Danish boys" 😰
How many 100% healthy, well educated and lovely people have been killed in the Danish "Super Hospitals" since the place was completely bankrupt in 2007?
To watch from abroad, is like participating in a horror film! Not to speak about the completely insane screams we are experiencing, should we dare to claim our rights from the little place.....Denmark no longer classify as a coun😢try..if it ever did....😪
I think you might have missed the fact that Denmark is home to a large cluster of pharmaceutical companies. They provide a large chunk of the GDP. And pharma is not as affected by the general economic of the trade partners.
And oil
@@BjornSeverinLarsen oil and gas from the north sea is not what it used to be..
Og lego. 😀
To add to this, the market value of Novo Nordisk is now greater than Denmark's GDP
It's only very recently that the pharmaceutical companies are adding huge chunks to the GDP.
Novo Nordisk also has an impact...
Anyway, low corruption is probably the main contributor to our state apparatus efficiency.. and even then we've caught people trying to corrupt the system on a regular basis.
I actually think that its more about how we're educated that makes a difference... not just that its either free or affordable.
We try to let kids think freely and creatively, that's where innovation comes from.
Combine that with an environment where starting a business isn't that difficult, and a system that's willing to pick you up again if you fail.
Novo nordisk could likely not happen without our structural support for it.
@@Styggejoe well, if you mean by encouraging education and creativity I agree...
But Novo is also focusing on medications that will be bestsellers in the overpriced US market... they're capitalists, not saints.
It's because they develop medication to treat the illnesses rich people get from never feeling limited on lifestyle.
So, I feel a little ambivalent about Novo... they have some kick ass science going on... but it's not a charity.
Re: the corruption... That's the point! We DO catch them! And punish them. Not many countries really do that to politically and economically influential people. Case in point: The US is currently tearing itself apart over whether a known crook and professional liar should go to prison for blatantly attempting to subvert their democratic process, just because he was accidentally elected president once.
@@BenjaminVestergaard While the company is not, it's majority shareholder and A stock with voting power is a charitable foundation.
@@herrensaar1989 it's true that they actually do share their wealth to some degree, and that they choose some good causes to support. Didn't say they're evil, just that it's still a business trying to earn their dollars from markets that are able to pay.
You forget strong Unions which keep in check that the Social Contract is never bent toward sheer exploitation of the working class, like in the pure neo-liberal economies.
Yeah no. The reason it works is because the unions arent as aggressive as in many other cuntries.
Danmark changed from originally beeing a farming country to be a country selling know how. Education is very important and most Danes speaks foreign languages and have high educations in many branches.
still farming pigs
That is true, an enactment in the late 20th century moved Denmark forward in knowhow and pionereed the firstmover concept as a wealthy country. Meaning well educated people with solutions to world wide problems became a product for the country to sell.
This was a actually a realization made after realizing what impact Bohr had on the world. Knowledge in speciality is worth a lot everywhere around the world, and that is why Denmark pushes forward in the sustainability culture still
@@kimf.wendel9113 sure...
@@thealover sure and doing that in a very skillful and expert way bc of knowing how to.
pharma companies in DK comprise of 15% of it's GDP. you also forgot to mention that our export to import ratio is absolutely insane and has been for a long time. But very good 3min breakdown.
Det er deilig å være Norsk i Danmark
What do you enjoy most about being in Denmark? :)
@@economicsinaction Your pastry
Vi elsker nordmænd, så du er med til at gøre os rige som mennesker!
Godt
@@economicsinaction alt danmark er det bedste land (everything denmark is the best land)
Number 1 reason : no corruption.
Not 'no corruption', but often ranked least corrupt country in the world.
A rank we get because we pay off the people doing the ranking😮
😂😂😂 The last part is just a joke 😂😂😂
As if
No its because the tax us like crazy. And we are probably a little corrupt. Every nation has some corruption
We are corrupt as fuc. Atleast our politicians are
Hahahahahaa
That's a very funny joke
Great video!👏
Great vid. Very entertaining and well explained :D
Thanks ! :)
🇩🇰🇩🇰🇩🇰🇩🇰🇩🇰🇩🇰🇩🇰🇩🇰🇩🇰 I love my country
I think that you have missed the fact that Denmark is build on 100's of years of traditions of governance and that the entire country have had a long time building it's education system as well as it's welfare system up in a way that makes it better for both the workers and the companies to either succeed or try again
Not saying you are wrong, but I think it is important to remember that Denmark was an absolute monarchy if you go back 100s years ago.
"Almueskolen" dates back to the early 19th century and was the first national school. The school became free for all in 1849, written into the constitution. "Almueskolen" later evolved into what we now call "folkeskolen".
@@fastertove you are right denmark was a monarchy back then. but the peaceful transition of governance from monarchy to democracy means we had a lot of buildings already in place, a lot of intellectuals still in place and most importantly a continuance of governance that also meant peaceful times to develop a democratic school based on the ideas of those intellectuals that had seen various systems in both Denmark and the world for education. simply put building on top of experience instead of trying from the bottom up. because there was no deadly turmoil.
While it is true that the school became free in 1849. all the way back to 1820's there are works about how a public school could look like that has been part of how it eventually became. works that was developed during the end of the monarchy and the beginning of our democracy.
@@steffensegoviahelbo5065 Yeah, I agree with you, especially about the the value of continuance.
A main advantage Denmark had was also no Feudalism (in Denmark proper) and going directly from a absolute monarchy to Democracy in Denmark meant less dividing into social class compared to important neighbors like England and Germany. While it is easy to spot in England, in Germany you need to look harder into the Germanic school and social systems, where you will find it is harder to break social heritage compared to Denmark. The Danish people also ultimately valued from loosing a million (nearly half) of its population and being forced neutrality following 1864. "Hvad udad tabes, det må indad vindes" - H.P. Holst.
It is important to note that much of the modern welfare system in Denmark isn't particular old, with a lot being added as an reaction to WW1 and the depression merely 100 years ago, which is why we should value, protect and not take it for granted.
@@fastertove Re: "it is harder to break social heritage compared to Denmark..." Denmark has a very low social mobility in international comparison (lots of research and data about this). So DK is also a very stable class system, where the "working class" is kept working, but now with a higher education - as everybody has more education...
@@birgittemunch3886
"The Global Social Mobility Report 2020":
Denmark got a global index score of 85,2.
If you read a little about the World Economic Forum you might come to the conclusion that the organization know a little more about the subject than we do...
There's a 218 page .pdf if you want to nitpick - I'm definitely not going to :)
If you know something they don't, perhaps you should share some of your data with them.
Cheers!
(Note: You might have received two notifications. My message was deleted, so this is just a fast rewrite.)
When you look at the GDP per Capita graph. Denmark is one of the only countries where the money isn't localized primarily around the 1%. Because we also have a higher average earning. That said we also have some really high living costs.
High cost of living is a choice. With a bit of flexibility and sacrifice you can make a fortune here. There is a silver lining in Denmark with our high wages - even for unskilled workers - that can be taken advantage of is one is okay with settling for less, not driving a financed car at 125% tax mark up, not going on vacation 6 weeks a year and generally being cost aware. I know people who pay 15.000 kr. in rent every month because its a cozy apartment in the right postal code. Absolutely blows my mind how people here are willing to pay to look like they have money.
This is down to the enormous middle class in Denmark driven forth by the redistribution tools of government indicated by the Gini coeffiency
@@kimf.wendel9113 that's true
@@Es26208 I agree. And I have personally avoided all of these traps you are describing. But even our food prices is in the high end globally.
@@MakCurrel you can't compare food prices based on valuation of currency. You have to look at it based on products. Prices vary in countries depending on availability, transport and demand.
Duck for instance are cheap in France because the demand is higher there than for chickens, same goes for price on cheese. There's also the competition factor which sets price points in local areas
Less ideology more common sense.
Also the principle of 'what is outward lost must be inward gained' basically quality over quantity.
And let's not forget that our ancestors worked really hard instead of wasting time on wars and nonsense. We were poor a hundred years ago. That work shouldn't be forgotten.
Realy good video. Explains a lot about our state (im dansih btw) and suprised me by how far we've come, just since last year.
I would have liked to hear more about our workforce, since our workforce is so skilled we basicly "export" them.
I really liked the video and how it informed even a true danish loudmouth like me at just how far we've come.
(Also Skåne is still rightful danish clay and you can't change me mind)
A Swede here. Please take Skåne. We don't want them.
It is a very light story about the Danish economy.
Firstly, Denmark has a cooperative democracy. On the really big issues, the biggest parties agree and this provides political stability.
Secondly, Denmark has strong trade unions that share responsibility for the economy, but also fight for better wages and better education. This is done in collaboration with the employers and the Danish Parliament. In bad times, you stick with salary demands again, but get other demands through in the collective agreement negotiations. Better holidays, education, safe from the unemployed. In good times, wages rise.
The Danish state ensures through the welfare state that the population has a high level of education, no student debt, free doctor and hospital, support for medicine, daycare centers etc..
It provides daily security and thus low crime compared to many other countries.
You’ve tought me a lot about my home country, I have to thank you!
Happy you enjoyed it, thank you for watching :)
Hello I am from denmark and this is spot on👍
Thanks ! :)
Maersk is not a big taxpayer and doesn't really contribute to Danish society.
I can't understand why you don't mention the pharma industry. Their contribution is 12% of the bnp. Especially NOVO SCIENCE, which is worth 3000 billion danish crowns or 441 billion us 441 $.
We dont actually need the taxes the brand and the amount of money people put in Denmark because of them exceeds the amount of money we would have got from taxes anyway
@@sbs330 Another joke. Nobody care where they come from, and they are going to
You forget to account for what the owners of Maersk pays in tax, that is not just peanuts.
@@kimengelbrechtgadeberg2711
i dont know what you mean. Do you mean where the money comes from?
The Mærsk foundation is taxfree. And the rest how much is it? 107.000 shareholders but these shareholders can live in many different countries.
You missed the relationship: companys/Unions which give a fairly fluid work enviroment, easy to hire/fire and unemployed have a fairly decent income, until they find next job, which means that nobody is left out!!!!!
Thank you for putting my little home country on the map
Thank you for watching ! :)
Don't forget that Denmark is currently also getting a Fehmarn Tunnel, which makes trade connections much faster and therefore money circulates more rapidly.
?
@@fastertove ??
@@fastertove what do you ? Me for
thank you for just talking normally and smoothly into the mic, not shouting like most youtuber's do to "try to impress" people .. >.
Thanks! Although, I think this is still something I would like to improve :)
Novo Nordic is likely a good reason as well. Recently became the biggest company in Denmark.
I am a Dane and you got it right, I will tell you. Thank you for that.
Don't forget to comment a 🇩🇰 below! What problems do you see with Denmark's economy ?
🇩🇰 I think Denmark will struggle go grow with high taxes , people will move to the US
you have no idea what you are talking about.@@infoprovider4844
@@infoprovider4844 i rather pay high tax than move to the US
@@infoprovider4844Scandinavia used to be the 4th largest immigrant group in the US until these policies were implemented. These policies made people want to stay.
Like most other western nations, Denmark is not immune to the growing wealth disparity. I see that as one of the major problems. Higher tax on the rich could be a solution. Concentration of wealth is not good in a democracy, since money equals power.
In the1800 many danish peoble imigrated to USA caused of the big difference between rich and poor, now a lot want to imigrate to Denmark
You missed Novo Nordisk among the titans of indsutry - they are now the most valuable company in Europe - and they are indeed Danish :P
Og alligevel skal os med sukkersyge stadig betale ca 2000 kr om årtet til dem...
good vid
Thanks ! :)
Also have to take into account that Denmark have a positive export to import ratio.
Nåh ja derfor
Nåh ja, det er derfor !
People in Denmark trust each other, because they are trustworthy. They stay out of conflicts and wars. They keep their promises. So it is safe to buy Danish products, it is safe to go on vacation to Denmark, it is safe to enter into business agreements with the Danish, and so on. As the Danish tourist office say in their tourism ads here in Norway: "It is nice to be a Norwegian in Denmark". People in Denmark are very similar to people in Norway :-)
Hm....not once, in mote than 60 years, have I met anyone from the Universe of Lies (DK) who could actually be trusted...I've met subjects from there, who constantly attempt to build a copy of the nightmare DK and friends made in Poland and Ukraine during WW2 but ok, in that way the are "trustworthy"...at least we know, we will always be attempted destroyed should we dare to come near..
Yes true. I’m from Denmark
nice video
Thanks ! :)
Im from denmark lovely video
Thanks ! :)
You forgot all the funds, a and b shares, and the entire medico industry.. but it's also difficult to reach it all in less than 10 min..
I love my country too! Very much! 🇩🇰❤️🇩🇰
Great video🤩. I’m from Denmark myself, and I am so glad to see a such video about danish national economic❤️🇩🇰
Do you currently live there?
@@deebee8825 yes I do.
@@laugebreindahl9823 What is it like living there?
@@deebee8825 it’s great, we have a very safe society and a good school system.
@@mda7629 Yes. It’s correct that the government is cutting in the school system. But it is non that much, and it goes to for example health care.
I don’t think you are right about that the government hate retirement people. I believe that they actually make good conditions for the them. Every year they give money for elder service.
How did novo nordisk not get mentioned in this?
Didnt expect to see a clip of my hometown Ribe, especially not 1 block away 😂
Why was the opera house shown while talking about education? 🤨
Refers to design and/or engineering, is my guess.
I got this video recommended randomly 👀
The UA-cam algorithm works in mysterious ways 👀
Denmark is an amazing country to live in
You live there?
Yes i do. I dont just live here. I have never lived anywhere else
@@RayLingBlackHole What do you like about it?
Well, u r allowed to say ur opinion with basically everything, u r free, its safe to be here and if u need to then its free to go to the hospital. I for example have been to the hospital more times than i can count, and i, or my parents have spent NO money on it.
@@RayLingBlackHole That's good. I have heard a lot of good about Denmark. I assume it gets extremely cold in certain areas but you're used to that. The pros probably outweigh the cons by a mile.
And not to mention the largest taxpayer in Denmark, Novo Nordisk, which is also the largest producer of insulin and diabetic drugs in the world.
Also innovation is super high because the wage is higher forcing companies to invest in robots and mashines that increase the output of products which lower the price per unite over all. More products more money. Also we make a Hell of a lot of farming products that is sold on the open market.
You should have mentioned NOVO Nordisk's contribution.
Novo Nordisk (Danish medicine company) was just ranked as Europes most valuable company💪
Keeping things uncorrupt is the way forward, the next part is making sure education is available AND incentiviced for all people. Educated citizen make sure they have opportunity and stay out of crimes, they also make sure they understand the politics behind their choices and help keeping corruption down in the long run.
The 3 pillars that keep up a nation is Education, Health and security, and all these things are paid for and fully funded by our government, and because of the lack of corruption it means we are happy with the taxes we pay since we know it comes right back to help us since there is no corruption.
Its a perfect closed loop that ensures a healthy economy, happy and healthy educated people.
If any of those 3 pillars fall then you start to open up tp corruption.
I agree. Unfortunately two of the three parties in the government work to benefit the private health sector more than the public one.
@@jensstergard9380 thankfully our system makes it hard for the leading party to enact much change, they all have a say unlike a twoparty system.
I would only add that, besides Maersk and Lego, Novo Nordisk/Novozymes also has faired pretty well.
You forgot IT FACTORY
Danes generally are ok with the high tax level, because we get value for money.
Dane here, living on and off in Kenya for 13 years.
I learned two important things about my native Denmark as opposed t my adopted Kenya......
Danes and Denmark have a high level of trust in general.
And we have little to no corruption. That makes a HUGE difference. I had no idea how much corruption can mess up a country until I came to Kenya.
Although, we complain about our healthcare system, it is there and sooo much better than here in Kenya.
Not really that indepth analysis of the "why" it is... I am sure that other countries also makes investments into vital infrastructure, building bridges etc., so why is it any different in Denmark?
Great Video, but one thing to know about Mærsk is they dont pay the normal taxes as other companies. They per pay a tax that calculated from the tonnage of their ships registered, which only a small portion of their fleet is. They have notoriously paid very little tax over the years
whether a company pays tax itself is not an important factor for the wealth of a country, it is better the company pays less tax. The point is tax is generated by the pay the workers themselves gets, which is a sort of tax that is not calculated.
If you have a workforce of 10000 people earning on average 6000 dollars a month that creates 10000 jobs aka 10000 people are no without work, but contributes to the economy. Giving a net of lets say 20 million dollars a month in tax. Above that is the fact that it makes exports that strengthens the value of danish krone. There are many ways the big companies contribute to the danish economy other than just direct company tax.
@@TellusJD Well when the second biggest shipping company in the world barely pays taxes, it kinda matters. The thing is, the majority of their employees are also hired internationally, so they aren’t paying taxes to Denmark
@@holyslothgod3623 I disagree, if it did it would not be the second biggest company, already it was more than double the size of its competitors 5-10 years ago and now it its second. Its either that or bye bye to denmark for maersk. Already the fact it uses danish workers makes it way higher priced in workforce and thats where the tax is paid.
Would you rather have 10000 people not employed or the money going through personal income tax.
@@TellusJDTo put this in to perspective, Mærsk made $30 billiion and payed around 0.7% in taxes. So no matter how many employees they might have, and which is over 150.000 internationally. It doesn't make up for it
@@holyslothgod3623 what I wrote before still holds, if you think a company like that on top of paying the income tax of 150.000 employees, then company tax then you have the result I mentioned before so if you want to kill a company sure ask for more tax. It is already the primary driver of income tax and value for many countries. 150.000 employees the world around creates a lot of tax. You know the money in a company should be used for security of the company, and the expansion of the company. The company itself is a major tax revenue creator around the world. just on a loose estimate, the tax income yearly the world around for just income tax via employees would be 3 billion dollars or more.
There is a reason for Holding company models, that is the way bigger companies can continue, company tax is essentially a double tax. And who does it benefit that it isn't applied? the average Joe that has a pension fund that is buying up stocks, who then has to pay tax of that money when they are realized.
🇩🇰🇩🇰🇩🇰🇩🇰 Im from Denmark Great video!
Thanks ! :)
Me to 🇩🇰🇩🇰🇩🇰
I am born in Denmark and I have lived in Danmark my whole life I work 5 hours a day Monday-Friday Weekends always off and I have no problem with inflation or anything that I see some people mentioning further down.
It all about who you manage your money.
I go out for dinner atleast once a week and I still make enough money so that I have extra to put in a savings account other then my penssion.
The thing is like someone else mentioned is that if you are "poor" in Denmark then you could move to a different country and be rich as fuck there.
Sure we do have homeless people in Denmark but most of them chooses that lifestyle.
I wouldnt call myself rich if I compare myself to someone like Elon Musk far from it but I dont have to think about oh can I afford to buy that and will I have money for rent next month and so on...
Sure we pay a high tax but then we also dont have to pay for going to the hospital and if we feel a little bit sick we can just call the doctor and get an appointment without having to think about can I afford it.
Sure there are upsides and downsides but the downsides to that danish system is so small that it has no meaning
Okay a little correction.
the home-less people didn't chose that lifestyle.
our social security has not always been as good as it is today, nor did Unions have the same power they do today.
Majority of homeless people are those that got abandoned by the system, while it was still developing to what it is today.
lost faith in said system and then ended up homeless.
@@warllockmasterasd9142 If what you say was true I should have been homeless for years.
I went for a periode of 5-6 years with no job and no income what so ever.
I had 0.00 Dkr going into my account for that periode of time.
I was working as an unpaid intern for the last 2-3 years of that time.
And I still had roof over my head with everything I needed.
Explain to me how being homeless is not a choice then..
Because being homeless is a choice here.
As a Dane, I think you might need to re-evaluate your position on the homeless. Most are deeply troubled by psychiatric problems - and you don't choose to wake up one day and get schizophrenia, now do you?
Unless that's a McD burger you're getting every week you eat out, I don't see how you managing unless you still live at home with your parents on a 5-hour/5-day schedule.
@@user-gw3fw8et2y Actually as a fellow dane, I can inform you with a friend having schizo.
there are several programs today that allows from low working hours to housing.
so working 5 hours a week and having a home, is more than doable if you've the diagnose for it. Today.
You name Lego, Vestas and Mærsk, but as the previous comment mentions, you left out the pharmaceuticals. Novo Nordic could swallow all three of the latter with their pocket change, being the single biggest company in the country, and constantly expanding their lead.
Maersk's revenue is about 3,5-4 times bigger than Novo Nordisk's is, it's just their market capitalisation that is lower. Novo is at ~44 P/E at the time of writing, Maersk is at 1,9...
love this video
because im danish but still GREAT VIDEO
Happy you liked it, thanks for the comment :)
@@economicsinaction ;)
you forgot biggest company, Novo Nordisk..
You might need to put Novo Nordisk in there aswell ;)
When you hoghlight "Education" - The building is not a university, but the Opera.
In big DK companies, you missed the biggest: Novo Nordisk.
The answer is Janteloven. It’s a social contract that says that you are not better than your neighbor and that you should not celebrate your own achievements. The consequence of this social contract is that we all strive to be the best versions of ourselves so that our neighbors will respect and acknowledge us.
Yes, and no. It's true, that in terms of internal management the law of jante contributes because it helps mitigate transaction cost between clients. However, the law of jante is incredibly terrible when it comes to the export market and cross-borders interaction. I was at an interview with Danish Industry New York, to hear a lecture on challenges facing many Danish companies in the U.S at large. One thing that the lecturer noted as a primary concern, was the naivity of new entrance into the U.S markets. Many blindly believed their new clients, and thought that verbal agreement were sufficient for a market exchange. Reality is different. A danish firm made an agreement, unless they wrote a contract down, the words of their new business partner only lasted the time the two spent in the same room. Once they left, they'd lose a contract with no way of enforcing it.
Hej jeg elsker den her video
Happy you liked it! :)
You missed NOVO Nordic - also a danish company - and right now the most valuable company in the EU - 2.300 Billions Dkr (600 Billions USD) worth - they generate a profit of 1,5 Billion Dkr ... every week - that is some 20 Billion Dkr last quarter - probably they will reach 100 Billion Dkr for the whole of next year - in USD that is some 15 Billions - so Novo, Lego, Maersk, Vestas, Oersted and a lot of minor (but bigger) ones Rockwool, Danfoss, ISS. Insane it has become - one area of DK - north west of Zealand - generates 10-15 PCT GDP growth every year in average and has done so for 10 years. Even China could not follow that ...
You forgot Novo Nordisk which is valued at more than the Danish GDP, one of the biggest companies in the world.
Hi there im from denmark.
As a Danish Citizen i can see this being true but funny enough i never thought we were so rich...but that's great news!
that's exactly why we are danes. We dont have super high expectancies for ourselves. So we get really surprised hearing how well we are comparing to the rest of the world :)
How do you like it there?
If your guy wasnt drunk when signing off the sea oil to Norway you couldve been richer, but with current gov I dont think it matters as they will just pocket it anyway without ruler-regulations..
@@NorthWindAfrican Fake old news. He was not drunk. He was socialdemocrat
i am from denmark 😊🇩🇰🇩🇰
As a Dane, I would argue that most of us take some sort of pride in working and paying taxes. And, despite all of us having the right to government benefits (e.g. if we lose our job, fall ill, etc.) most will rather fight tooth and claw to avoid that, as “that is for those who actually don’t have a choice” (mentally ill, chronically sick, and such).
That, I think, helps our nation as a whole to thrive the way it does. Couple that with low corruption, low crime, equality, free healthcare, and so on.. I mean, go figure
"Og da har i rigdom vi drevet det vidt, når få har for meget, men færre for lidt. " Skrevet af Grundtvig i 1820.
as someone who lives in denmark i see this as an absoulte win
I'm very grateful for being Danish
that's great. met a lot of people here that aren't. jeg vil gerne se dem overleve 7 dage i serbien lol 🤣
@@NikkiMcMistie Vi har det sgu meget godt i Danmark
@@philipmrch8326 enig
håber for dig at du bor i DK
Europe's largest company by market capitalisation is Danish: Novo Nordisk
Currently its value is larger than the annual GDP of Denmark.
i cant comments flags wth
Denmark doesn't have any investments involved in extraction ?
We extract solar and wind energy.... the estimates suggest that we will not run out of these resources anytime soon ;0)
We have gas extraction, but the largest of the fields we have in Denmark is currently under restauration, which began in 2019 and is predicted to end in the winter 2023/24.
For the sake of completeness - we also have oil wells in the North Sea.
You have really forgotten the most important company we have in Denmark, which is novo nordic
Novo Nordisk A/S,
Calculated by market value, Novo Nordisk is Denmark's largest company. Novo Nordisk has employees in 75 countries and markets its products in 180 countries. The pharmaceutical giant's revenue in 2022 will be DKK 177 billion. DKK,
( 1 Danish krone = 0.15 US dollar must of course take currency fluctuations into account) ..
A. P. Møller-Maersk A/S
The transport giant submitted its annual accounts for 2022, which showed a profit after tax of 29,321 million dollars.
But of course We make a living by educating our population well... but the right wing is fighting a good fight to privatize Denmark. and turn the country into Little America.. where the parents' finances determine what education you can get...
We are a good little community but there is room for improvement in many places...
i am from denmark and its true
The richness of Denmark comes from the fact that early on it was decided to focus on a large middle class.
From a government perspective it was chosen to lower the high class, minimize lower class and highlight the middle class. This required a strong state to redistribute wealth and taking on many of the areas that would divide society into classes.
This is why government handles healthcare, childcare, retirements and education.
Another smart thing they did was move government spenditures on investment out of the national, and into the public, by creating a special debt market for investments in construction. This means that the average Dane has far more debt than any other citizen in the world, and that the government has very low debt ratio compared to all other countries. The public has taken that debt, and even did with the high cost of Corona, that debt was paid by investors on behalf of the government. Investors including retirement savings of the general citizen.
But really what makes Denmark so rich, is that it chose to focus on future industry very early on. Denmark pushes innovation and sustainability and strive to be first movers on so many things that the value of these thing goes through the roof when they go into demand. Also pushes software development that is bought up by huge companies, and that brings a lot of wealth to the nation.
Wealth that is then redistributed into a large middle class by several factors. Factors that ensures high buying power, making the high taxes feel less prudent.
På trods af at skatten på en bil er 150% har hver anden en bil. Staten tjener på bilsalget og på financeringen af bil lånet hos bankerne. Desuden tjener staten på at vi kører i dem. Det ville jo ikke være så godt for staten hvis vi alle ville køre med offenlig transport. Jo flere veje, broer og tunneller vi bygger, jo flere biler får vi på vejene. En yderligere indtægtskilde ville være hvis vi betaler for at køre på veje, broer og tunneller. Bankerne tjener en masse som de så kan investere i byggeri som skaber arbejdspladser og så kører hjulet indtil næste finanskrise
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More vacant jobs than job seekers, and here I am, 32, male, dane, with a bachelors and masters degree in biochemistry and clinical nutrition, jobless. Ive been sending job applications for almost 2 years to every single hospital in Denmark, and all other conceivable jobs with educational relevance, without getting a job. My grade average from University is 11.8, (12 = A+, 10 = A)This video does not reflect the job market in Denmark lol. You have no idea how many scholars are without jobs in this country. The problem many of us face is that companies and government institutions (like hospitals) do not accept graduats with no job experience. I did my bachelors, was unable to get a job, was told I needed either experience or a masters degree. Since getting job experience is impossible with already having experience I did my masters, and Im still told they dont hire unless you have 3 years experience. So basically I need to start my own company, which I dont have capital for, or I need to work for free for 3 years.
rød grød med fløde vinder altid;D
The workforce is highly efficient Danes are not keen on working overtime and prefer to spend quality time with friends and family.
the sad part is most countries aren't able to do the nordic model because it relies alot on trust
Yeah. Look at US, they see their government as an “opponent” and has to be protected against it in their constitution. Here we see our government as a help to citizens and we trust the government to take care of us, if needed.
Well, it is certainly easier to reach that trust when your population is only of a few millions
@@louisfesselet3963 Why is a government more trustworthy with 5 mill population, than 20 mill. Big population doesn't make a government more untrustworthy.
@@louisfesselet3963 Denmark has a population similar to an average US state, an average German Bundesland or an average UK county. If it is possible to have a few million people working well together one place, it should be possible to have a few million people working well together another place too.
@@Bob94390 Us states and German landers are dependent on the federal power
Yeah we are really rich in Denmark... so rich that on some of our Nurcing centers for old people in Copenhagen, we have to serve their dinner in plastic trays, from an outside company. Then we as Social & Heltcarehelpers have to warm in a microwave oven.
Sounds like the rich Norway. lol
Norway is so rich that the population have to pay for the new highways with toll fees....
The plastic tray is also to protect the elder... Some of them dont have full control of hands so the shake... So if they were handed a plate that can crack into sharp pieces they could end up getting cut by it...
Why are the nursing centers placed near the cementary ?
As a Dane, I agree 🇩🇰
an extra added reason why DK is rich....
# trust
trust: in the State, in our Social Democracy, in the vote for ALL persons o.18 yrs
trust: in the lack of corruption, throughout the system, including the police etc..
trust: in that the law, is the same for all, regardless of standing or financial holdings
Im from denmark, and this dosnt sound completly wrong. It sound rather correct.
Insane not to mention Novo Nordisk the largest company in EU which is Danish
You are missing Novo Nordisk.....the most valuble compagny in europe
I am form Denmark🇩🇰🇩🇰🇩🇰
I am from Denmark 🇩🇰🤩
🇩🇰🇩🇰🇩🇰🗿🗿🗿 but thanks now i know a bit more about my country
We are rich as a nation but not as an individual, i live day to day here like most i know does. Go to a less fortunate country and then yes we are very wealthy
As a danish person i see this as a w
Jeg er dansker
Danmark er det land der betaler mest i skat 😢 men skole læge og andre ting som det er gratis 🇩🇰
De kan ikke tale dansk…
English:I live in Denmark
Danish:Jeg liver i Denmark
as a dane, this video gave me a huge ego boost
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we also have nova nordisk who learned how to make the medicin for diabetes
Im from DK we are rich. But we have the highest tax in the world
LoL - Lego and Maersk "helping Denmark stay rich" - they evade TAX - if not - they move their operations outside of Denmark.
And our former prime minister Helle Thorning put away money in tax-free Cayman Island
Lego,Maersk,ISS,Bestseller,Ecco
l am from denmark
fax