Scandinavia has often been viewed by some as a model for economic success. With its high quality and low cost healthcare, high gender equality, and lower income inequality there is certainly a lot to admire.
However, there is an underlying problem beneath this economic facade of success. This problem is the large amount of consumer debt (such as payday loans) that households in Scandinavia hold, and this debt is progressively growing larger.
So, why is consumer debt increasing in Scandinavia? Here are 3 reasons why