The vision set out in this anniversary publication, Finland 2051 (Suomi 2051. In Finnish with an abstract in English.), is to permanently catch up to the living standards of our Nordic peers over the next quarter-century. Realising this ambition will require a radical overhaul of the Finnish economy’s structural foundations, guided by the policy measures outlined in this book. These also encompass experiments lacking conclusive ex ante evidence of their efficacy. In the short term, the objectives and measures form an impossible trinity, or a trilemma.
Future prosperity will be driven by intangible capital. Simply pouring money into research and development will not suffice; ideas must be commercialised and scaled globally, backed by active and engaged ownership. The forces of creative destruction must be unleashed. The tax burden must shift away from labour towards inelastic tax bases, while labour markets require greater flexibility to ensure the seamless mobility of talent. Skill shortages must be tackled by accelerating work-based immigration and earmarking higher education resources for first-time students.
To save the welfare state, the public sector must pivot from being a direct producer of services to acting as a platform. The concept of universalism requires a modern update: fundamental rights must be guaranteed, but public support should be rigorously targeted based on genuine need and measurable impact.
In an era defined by geoeconomics and the green transition, Finland’s competitive edge will hinge on clean electricity, agile yet rules-based governance, and a more deeply integrated Europe.
The book was edited by Etla CEO Aki Kangasharju and Research Advisor Petri Rouvinen, and its authors include Etla’s leading researchers as well as all of its CEOs from the 2000s.
