Was it too good to be true? Post-2008 crisis welfare state in Finland

Abstract

Life had never been as good in Finland as it was in 2008. Finland was regularly shortlisted as the best country in the world by various international agencies, numerous comparative and historical studies on the quality of life and life satisfaction scored all time highs and the standard of living was higher than ever. Since 2008, however, the FWS has been experiencing significant transitions in all major risk governance systems, including family policy, pensions, and social and health services. In many fields, however, reforms are still to be implemented. The article provides up to date information on those changes, analyses key factors behind them, and points out several strengths and challenges. Detailed attention will be paid to various endogenous and exogenous factors. It is also pointed out that the politics of the 2008 crisis have significantly benefited from the experiences of the early 1990s recessions; furthermore, the reforms made then have made it easier to adjust the institutions of the welfare state to the changing circumstances.