The Nokia effect

Jake Atchoo

Section: Barbara Adams

Headline: The Nokia Effect

Date: 9/4/2012

Source: The Economist

Abstract: An article on the front page of The Economist’s website drew my attention recently. Titled “The Nokia effect”, it explains how Finland’s economy is heavily reliant upon Nokia. So much in fact, that from 1998 to 2007 Nokia contributed a quarter of Finnish growth and made up 30% of the country’s spending on research and development. They also paid 23% of all Finnish corporate taxes. Other countries have similar reliance on companies to sustain their economy, but none are as significant as Nokia and Finland. There seem to be pros and cons to this relationship but since Nokia’s share price has declined 90% since 2007, it directly affects the Finnish economy. This means that Finland is not contributing to technological and design innovation as they once were and raises concern.

Link: http://www.economist.com/node/21560867

Global Issue: Finance and economics

Primary Design Lens: Sustainable Design

Secondary Design Lens: Innovation and Economic Development

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About jakeaparsons

My name is Jake and I am graduating in December of 2012 from Parsons BBA program. I am originally from Michigan and transferred here from Arizona State. Past internships have been with The Trump Organization, Viacom, and Lululemon. I like hockey, tennis, and golf. I would ideally like to get into management consulting but am interested in the retail sector as well.
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