Norway - Is It The Perfect Economy?

https://www.youtube.com/watch?v=hKGwGAHznFQ

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Norway's Economy has been used as the poster child for a socialist mixed economy done right? Is it really the perfect economy or just another country that won the oil lottery? I will try to respond to all questions in the comment section if you have any. References- Hellevik, O., 2003. Economy, values and happiness in Norway. Journal of Happiness Studies, 4(3) Klein, L.R., 1948. Planned Economy in Norway. The American Economic Review, 38(5), Richardson, B.J., 2011. Sovereign wealth funds and the quest for sustainability: insights from Norway and New Zealand. NJCL, p.i. Backer, L.C., 2009. Sovereign wealth funds as regulatory chameleons: The Norwegian sovereign wealth funds and public global governance through private global investment. Geo. J. Int'l L Andreß, H.J. and Heien, T., 2001. Four worlds of welfare state attitudes? A comparison of Germany, Norway, and the United States. European Sociological Review https://www.numbeo.com/cost-of-living... Music - Brandenburg Concerto No4-1 BWV1049 - Classical Whimsical by Kevin MacLeod is licensed under a Creative Commons Attribution licence

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Originally Posted by The Lawspeaker

https://www.youtube.com/watch?v=hKGwGAHznFQ

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Norway is just a country that has a small population and won the oil lottery; I don't think you can scale that to America. Maximum prosperity , for America, is on a laffer curve rather than a diagonal straight line and the maximum economic prosperity would be somewheere between where America is now and Sweden but Sweden is slightly closer to the ideal. However, Amerians are libards who think such thoughts are socialist meanwhile their neoliberal mode of capitalism has failed big time in 2008 and has not fully recovered , yet, proving it is yet another failed mode of capitalism :

http://media.salon.com/2014/06/math-2.png

^It's just a completely different economic system. The Americans have all those resources and pissed them away, the Norwegians struck gold and invested it.

You are Dutch .. the Dutch wealth was not given ... it was built by your ancestors..( some of them were pirates.. :cool:)

Norway is just lucky


Italy has "nothing" no oil no gas no coal no iron.. no gold... no silver...

We have even been exploited by the few colonies we had...

Norway Unexpectedly Pulls $400 Million From Sovereign Wealth Fund

Although the government refused to comment on the circumstances behind the withdrawal. But one possible motive can be found in the global oil market: Prices tumbled in August, sticking the Norwegian government with a hole in its budget. Benchmark Brent crude hit a seven-month low of about $56 a barrel in early August amid global growth concerns.

That’s well below the government’s oil-price forecasts from its revised budget. The Norwegian government had forecast prices between $67 and $70 a barrel between August and the rest of the year.

Although the government refused to comment on the circumstances behind the withdrawal. But one possible motive can be found in the global oil market: Prices tumbled in August, sticking the Norwegian government with a hole in its budget. Benchmark Brent crude hit a seven-month low of about $56 a barrel in early August amid global growth concerns.

That’s well below the government’s oil-price forecasts from its revised budget. The Norwegian government had forecast prices between $67 and $70 a barrel between August and the rest of the year.

https://www.zerohedge.com/markets/no...comment_stream

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Originally Posted by renaissance12

You are Dutch .. the Dutch wealth was not given ... it was built by your ancestors..( some of them were pirates.. :cool:)

Norway is just lucky


Italy has "nothing" no oil no coal no iron.. no gold... no silver...

We have even been exploited by the few colonies we had...

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I wouldn't call Norway's wealth pure luck either but hard work and dedication: they were always a trading nation much like the Netherlands. They just were under foreign rule, missed the agricultural component and didn't have colonial markets.

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Originally Posted by JamesBond007

Norway is just a country that has a small population and won the oil lottery; I don't think you can scale that to America. Maximum prosperity , for America, is on a laffer curve rather than a diagonal straight line and the maximum economic prosperity would be somewheere between where America is now and Sweden but Sweden is slightly closer to the ideal. However, Amerians are libards who think such thoughts are socialist meanwhile their neoliberal mode of capitalism has failed big time in 2008 and has not fully recovered , yet, proving it is yet another failed mode of capitalism :

http://media.salon.com/2014/06/math-2.png

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Crete alone has more natural gas (and oil) than Norway, worth 26 trillion of dollars. More natural gas than Russia, more gas (and oil) than Qatar or Saudi Arabia.

And although 80% of the future profits will go to the big companies like Excon mobil or Total, Greece will nevertheless get 20% of those profits, that's 5 TRILLION of dollars within the next 30 years.

The future looks very promising for Greece (and Cyprus). It is no coincidence that Greece now borrows with 0,8% that is lower than the U.S. borrows.

The drillings will begin within 2020

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Originally Posted by The Lawspeaker

I wouldn't call Norway's wealth pure luck either but hard work and dedication: they were always a trading nation much like the Netherlands. They just were under foreign rule, missed the agricultural component and didn't have colonial markets.

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And the fact Scandinavia hasn't been involved in a war for 200 years.

The Nazis didn't destroy Norway like they did with Greece or Poland.

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Originally Posted by The Lawspeaker

I wouldn't call Norway's wealth pure luck either but hard work and dedication: they were always a trading nation much like the Netherlands. They just were under foreign rule, missed the agricultural component and didn't have colonial markets.

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They are lucky because of oil and this..: renewable energy 98% of total electricity produced..

https://www.euractiv.com/wp-content/...36-800x450.jpg

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Originally Posted by wvwvw

The Nazis didn't destroy Norway like they did with Greece or Poland.

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Yeah I'm sure that's the reason you're third world.

https://i.imgur.com/VLWhzC0.jpg

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Originally Posted by wvwvw

And the fact Scandinavia hasn't been involved in a war for 200 years.

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Germany & Japan have entered the chat

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Originally Posted by Snkves

Yeah I'm sure that's the reason you're third world.

https://i.imgur.com/VLWhzC0.jpg

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Everybody knows it's because we are Asians irl LOL

Norway (like Switzerland and Iceland) is also an independent country which isn't governed by the EU.

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Originally Posted by ♥ Lily ♥

Norway (like Switzerland and Iceland) is also an independent country which isn't governed by the EU.

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yes like the UK should be. They don't need the EU anymore telling them what to do at this point. Too big of a country with their own commerce that needs to be produced and exported with some EU terms but not part of the EU.

I don't think that a good economy is the goal but a free one.

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Originally Posted by wvwvw

And the fact Scandinavia hasn't been involved in a war for 200 years.

The Nazis didn't destroy Norway like they did with Greece or Poland.

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At the beginning of the 20th Century, Norway was one of the poorest countries in Europe.

Sweden stayed neutral during two World Wars. This enabled Sweden to change from one of the poorest countries in Europe into a modern welfare state.

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Originally Posted by ♥ Lily ♥

Norway (like Switzerland and Iceland) is also an independent country which isn't governed by the EU.

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Pretty much the same like Moldavia, Bosnia, Albania or Macedonia.....

https://www.youtube.com/watch?v=qp-xxXZYCMo

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Norway is one of the World’s wealthiest countries. Also they have really small inequality between rich and poor and a big welfare state. Part of this wealthy lifestyle can be explained with their enormous oil reserves, located on the Nord Sea. But… this is not the only one. In fact, Norway has managed their natural wealth on a very specific way: state capitalism. This means: Government control a big share of the economy but, then again, it behaves as a business: they care about efficiency and productivity, save money and even… invest it in the stock market! In fact, Norway is not just a wealthy country. It is also one with a big sway on international finance. Why? Because the Norwegian Central Bank invest all the oil profits on the stock market. This is the so called ‘Norway’s sovereign wealth fund’ or the ‘Norwegian pension fund’. This country invest more than 1 TRILLION dollars in companies from all over the world. But how does this system work? In this video, we will tell you how.

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https://www.youtube.com/watch?v=D9qG5dA_gcg

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In the last few years, the most significant element of the Norwegian identity has been its commitment to the environment, especially its fight against climate change. And there is no better place for us to see this than in their adoption of the electric car. You see, Norway has the most developed market for electric cars in the world. In Norway, one out of every two of the cars sold is either electric or hybrid! But there´s more... Watch our today's video and find out!

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Oil was not the only thing contributing to the success of Our society. High levels of trust and a policy that aimed at a more equal distribution of wealth created a peaceful society. Low crime-rates and corruption. I would argue this was possible due to a vastly ethnic homogeneous population. The welfare state was only made possible through a society based on trust. As an example farmers where I live used to leave their goods unattended, relying on people honestly paying for what they take. Not anymore, though.

In recent years increased diversity have challenged this model. The high number of immigrants with foreign background on welfare has taken a heavy toll on the economy. A lot do not want to become part of Our society, and perceive kindness for weakness. With lesser qualms about abusing the welfare services. Considering it free fruit ripe for taking.

The oil dependency is real if we are to maintain the current standard of living and security. We do have other industries to rely on, but we have to accept the standard of living will get lower as expenses gradually surpass the income.

Norway is full of norwegians, apart from the oil, that explains mostly, oil is an economic plus.

If that oil would have been found in Uganda, it still would be a shithole and only four oligarchs would be rich. Because that's what happened in Equatorial Guinea,a country with oil and with similar population.

Then we have also the example of Venezuela too.

In fact most of the third world countries have huge resources, but they are third world and will be.

The ones who think oil really makes Norway what it is should know that Norwegian oil is selling at a much higher price than arabs which makes their oil too expensive to buy for most countries.

Without oil money which has been the case several times making the norwegian crown NOK fall, Norway is just Sweden with higher wages, so the oil doesn't do everything.

Oil + Small Population + Intelligence

There is some corruption in Norway, but those in charge know better than to let that show economically.

It's because Nordmenn are Aryans and shiiiieeet...

Ok, besides joking. Before the 960s, Norwegians on a per capita basis were poorer than Greeks. They found the oil reserves, but they did not rely just on them. They dealt with these resources masterfully, so that they became the country they've become now. Their success also relied upon their strong homogeneity (as with all Nordic and almost all European countries) and their high levels of trust and social cohesion. When one country is composed of only one group, that has common values, ethics and priorities and are trustful with each other, only progress is ensured.

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Originally Posted by Snkves

Yeah I'm sure that's the reason you're third world.

https://i.imgur.com/VLWhzC0.jpg

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No offense, but Malmö, an entire part of Göteborg and all of the northern suburbs of Stockholm are worse shitholes than my country. Because you've brought the third world by your own will.

Oil price below 50-55$ means the end of Norway wealth ............ the state fund is leaving the oil business.

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Originally Posted by renaissance12

Oil price below 50-55$ means the end of Norway wealth ............ the state fund is leaving the oil business.

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Norway will be doing fine long time even if oil price would stay down.

Right now ... they basically don't have national debt. How many countries can say the same? Lots of unused ''potential'' here with them.

Secondly they are bit like ''fat/lazy pig'' at the moment ... the costs savings done in Finland, in Sweden, in Iceland, in Denmark (while last decades) are bascically not been done (yet) in Norway. Simply copying those will cut the costs of public sector ... if/then needed.

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Originally Posted by Finnish Swede

Norway will be doing fine long time even if oil price would stay down.

Right now ... they basically don't have national debt. How many countries can say the same? Lots of unused ''potential'' here with them.

Secondly they are bit like ''fat/lazy pig'' at the moment ... the costs savings done in Finland, in Sweden, in Iceland, in Denmark (while last decades) are bascically not been done (yet) in Norway. Simply copying those will cut the costs of public sector ... if/then needed.

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Norway can become less wealthy.. but less wealthy doesn't mean...."Africa or other poor regions" Norway could drop from the first/second rank ( wealthy countries ) position to 15-20 position...

Absolutely, one of the top 5 richest countries in Europa and of top 10 in the world.
https://norwaytoday.info/finance/nor...ry-to-live-in/
https://en.wikipedia.org/wiki/Economy_of_Norway