In 1991, Swedish voters broke the reign of the Social Democrats, electing a coalition government under conservative Prime Minister Carl Bildt, who called his program “the only way.” Bildt tried to follow Schlüter’s lead, but, in 1992, Sweden was forced to devalue – though his deregulation of markets did work well.
20世纪90年代初，挪威、瑞典和芬兰经历了可怕的房地产、银行和货币危机。产出下跌，失业率暴增。1991年，瑞典选民打破了社会民主党的主宰，选出了以保守派首相比尔特为首的联合政府。比尔特称自己的方案是“唯一的道路”。他试图追随施吕特的做法，但在1992年，瑞典被迫贬值——尽管其市场去监管化做得很好。