There is evidence of economic writing that dates all the way back to the Mesopotamian era. The development of modern economics is largely due to two groups which were known as the physiocrats and the mercantilists. These groups help develop capitalism in Europe in the 16th century.

Sweden, officially the Kingdom of Sweden, is a Scandinavian country in Northern Europe. Sweden borders Norway and Finland, and is connected to Denmark by a bridge-tunnel across the Øresund. Sweden is a developed post-industrial society with an advanced welfare state. The standard of living and life expectancy rank among the highest in the world.