Denmark has the recipe for happy capitalism

Danes trust each other, say no to corruption, study and experience great financial freedom.

A new survey by Deutsche Bank shows why Denmark has been exceptionally good at turning material wealth into widespread happiness among the Danes.

“Denmark is a country that has organised its society and institutions in such way that it creates the necessary conditions for human happiness”, states Stefan Bergheim, economist and author of Deutsche Bank’s analysis of the sources of happiness in the world’s wealthy countries, according to Børsen.

The report points out the ten most important conditions which determine the level of national happiness and which explain why the Danes repeatedly call themselves the happiest population in the world:

Mutual confidence, absence of corruption, low unemployment, a high level of education, high income, a high degree of employment among elderly people, a small underground economy, significant financial freedom, flexible labour market and a high birthrate.

Professor Jørgen Goul Andersen who recently participated in an international financial conference about happiness in Rome says that financial wealth is the first and most important source to happiness.

However, the financial goals for the citizens’ wealth do not account for why the Danes feel happier than the Swedes, the Germans or the Americans.

In the analysis from Deutsche Bank it says that the Danes especially stand out in the international top ranking when it comes to the experience of trust and confidence between the citizens, absence of corruption, a high education level and the experience of financial freedom.

The result is no surprise to professor in sociology Peter Gundelach from the University of Copenhagen.

“A main result is that basically Denmark is a rich country. Having said that we note that the Danes often mention the close social strings of their society. The Danes have many and close strings and a certain openness towards each other. People have great trust in each other. This is connected to the experience of satisfaction and happiness,” says Peter Gundelach.