Sweden in the 1920s was indeed in a comparatively sweet spot, but so was much of Western world before the Great Depression and WW2 hit. However, by modern standards, Sweden was still quite poor and agrarian: life expectancy for both men and women was under 50 years until the 1890s, and it was the last nation in Europe to experience a major natural famine in 1867-9, with ~15% of the population dying.