Actually, twenty years before our crash Sweden had its own financial crisis brought on by: inflated real estate market, loose credit and financial deregulation. For years their economy suffered from high inflation, low real wage growth, and unsustainable public debt (sound familiar). How did they recover? In 1992 they acted swiftly and with political consensus to nationalize their banks. By the way, the Nordic countries define themselves as a social democracy not socialists. They are capitalists, but they use their tax structure to ensure the economic and social security of its citizens.
And in that social democracy, there is actually a surprising amount of wealth inequality. But the disparity there is not so alarming according to Credit Suisse: “Strong social security programs, good public pensions, free higher education or generous student loans, unemployment and health insurance can greatly reduce the need for personal financial assets. Public housing programs can do the same for real assets. This is one explanation for the high level of wealth inequality we identify in Denmark, Norway and Sweden: the top groups continue to accumulate for business and investment purposes, while the middle and lower classes have no pressing need for personal saving.”