Denmark is characterised by a number of distinct traits: a small and open economy, a stable democratic political system, a high proportion of organised wage earners covered by collective agreements, a political culture marked by social partnership, and a long tradition of institutionalised class cooperation. In this sense, Denmark has not only developed from a market to a mixed economy, but from a mixed to a negotiated economy. Because of its political history, the institutional structure in Denmark is hybrid. Market power and state authority are mixed in corporate bodies. Public authority is delegated to a large number of private and semipublic institutions, and decisions are taken in negotiations among mutually autonomous and collectively organised partners.