I tracked down the sort of thing that had stuck in my mind. According to these rankings, published in the early '90s, although Switzerland outranks Sweden, they are both in the top 5 countries, with respect to per capita GDP. This situation is true of much of the postwar period, where they both also generally exceed other Western European economies. However, it appears to be true that the economic status of Sweden eroded somewhat during the '90s.
Per Capita GDP
World Bank: 1991 (World Development Report, 1993).
Ranking Country Per capita GDP(1991)
1. Kuwait ?
2. Switzerland 33,610
3. Japan: 26,930
4. Sweden 25,110
5. Norway 24,220
6. Finland 23,980
7. Denmark 23,700
8. Germany 23,650
9. US 22,240
10. Canada 20,440
11. France 20,360
17. UK 16,550
18. Singapore 14,210
19. Hong Kong 13,430
107. China 370
125. Uganda 170
However, these income figures are nominal incomes, which rely heavily on the exchange rates. These may not reflect the real standard of living. The World Bank report argues that for example, Americans live in spacious houses and less polluted environment than the Japanese.
econ.iastate.edu
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