<P> Many of the industrialized, open countries of Western Europe experimented with one form of social democratic mixed economies or another during the 20th century . These include Britain (mixed economy and welfare state) from 1945 to 1979, France (state capitalism and indicative planning) from 1945 to 1982 under dirigisme, Sweden (social democratic welfare state) and Norway (state capitalist mixed economy) to the present . They can be regarded as social democratic experiments, because they universally retained a wage - based economy and private ownership and control of the decisive means of production . </P> <P> Nevertheless, these western European countries tried to restructure their economies away from a purely private capitalist model . Variations range from social democratic welfare states, such as in Sweden, to mixed economies where a major percentage of GDP comes from the state sector, such as in Norway, which ranks among the highest countries in quality of life and equality of opportunity for its citizens . Elements of these efforts persist throughout Europe, even if they have repealed some aspects of public control and ownership . They are typically characterized by: </P> <Ul> <Li> Nationalization of key industries, such as mining, oil, steel, energy and transportation . A common model is for a sector to be taken over by the state and then one or more publicly owned corporations set up for its day - to - day running . Advantages of nationalization include: the ability of the state to direct investment in key industries, the distribution of state profits from nationalized industries for the overall national good, the ability to direct producers to social rather than market goals, greater control of the industries by and for the workers, and the benefits and burdens of publicly funded research and development are extended to the wider populace . </Li> <Li> Redistribution of wealth, through both tax and spending policies that aim to reduce economic inequalities . Social democracies typically employ various forms of progressive taxation regarding wage and business income, wealth, inheritance, capital gains and property . On the spending side, a set of social policies typically provides free access to public services such as education, health care and child care, while subsidized access to housing, food, pharmaceutical goods, water supply, waste management and electricity is also common . </Li> <Li> Social security schemes where workers contribute to a mandatory public insurance program . The insurance typically include monetary provisions for retirement pensions and survivor benefits, permanent and temporary disabilities, unemployment and parental leave . Unlike private insurance, governmental schemes are based on public statutes and not contracts, so that contributions and benefits may change in time and are based on solidarity among participants . Its funding is done on an ongoing basis, without direct relationship with future liabilities . </Li> <Li> Minimum wages, employment protection and trade union recognition rights for the benefit of workers . The objectives of these policies are to guarantee living wages and help produce full employment . There are a number of different models of trade union protection which evolved, but they all guarantee the right of workers to form unions, negotiate benefits and participate in strikes . Germany, for instance, appointed union representatives at high levels in all corporations and had much less industrial strife than the UK, whose laws encouraged strikes rather than negotiation . </Li> <Li> National planning for industrial development . </Li> <Li> Demand management in a Keynesian fashion to help ensure economic growth and employment . </Li> </Ul> <Li> Nationalization of key industries, such as mining, oil, steel, energy and transportation . A common model is for a sector to be taken over by the state and then one or more publicly owned corporations set up for its day - to - day running . Advantages of nationalization include: the ability of the state to direct investment in key industries, the distribution of state profits from nationalized industries for the overall national good, the ability to direct producers to social rather than market goals, greater control of the industries by and for the workers, and the benefits and burdens of publicly funded research and development are extended to the wider populace . </Li>

What two important things are not considered to have value in many economic systems