Sweden - The Next Decades

This interesting mini-debate came up in another thread. I don't have any evidence or opinion for either side, so I wanted to hear this debate - properly laid out on a brand new thread which I intend on keeping under tight watch - from the people who do know these kinds of stuff.

The topic of discussion is,

Sweden will no longer be a first world country by 2050 if Sweden continues its socially progressive policies. Adopting socially conservative policies probably will avert this result.

Please clearly state whether you agree or disagree with the above statement, and explain what you believe the terms "first world country" and "socially progressive policies" actually mean.

Please be civil in your debates. AtWar has enough locked threads.

Discuss.

Sweden is already a lost cause.