Information agencies set up for business-friendly opinion moulding in Sweden worked actively with similar organizations in the Nordic countries to formulate a pro-business ideological programme after the Second World War. The intent of this so called 'Alternative' was to counteract social democratic ideas of a more state-planned economy. This article contributes to earlier research on how business interest associations in corporatist countries responded to the development of the welfare state in the Keynesian era. Over time, the programme became less about taking an ideological stance in defence of free enterprise and more about dealing with the economic consequences of record growth. Business involvement in cartelization proved difficult to combine with arguments for free competition, free markets, and non-regulated prices. Collaboration as well as new institutions for both formal and informal discussions between labour and capital during the 1950s and 1960s, at least in Sweden, seems to have reduced the sense of urgency for an ideological programme for business. In the end, no Nordic business programme was ever realized.

A renewed political interest in profit sharing and employee codetermination prompts an analysis of the Swedish wage-earner funds, implemented by a Social Democratic government in 1983 and dismantled by a center-right government in 1991. This article explains the funds’ financial performance and the political decisions surrounding their dismantlement. It finds that the funds underperformed slightly in relation to financial targets. Reasons include inexperienced boards, limited investment opportunities, and a hostile attitude from the business community. For the center-right parties, getting rid of the funds was an ideological decision. Transferring the assets to research foundations and public venture capital funds would improve the business climate, compensate firms for taxes paid to finance the wage-earner funds, and ensure that the Social Democrats would not be able to reinstate the funds. The intense debate surrounding the wage-earner funds, their implementation, how they functioned in practice, and their dismantlement clearly contributed to Sweden’s sharp market turn in the 1980s and 1990s.

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