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May 13, 2009 at 7:29 PM #399219May 13, 2009 at 7:40 PM #398540
afx114
ParticipantThriving Norway Provides an Economics Lesson
Norway has thrived by going its own way. When others splurged, it saved. When others sought to limit the role of government, Norway strengthened its cradle-to-grave welfare state.
…
And in the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.
By comparison, the United States is expected to chalk up a fiscal deficit this year equal to 12.9 percent of its gross domestic product and push its total debt to $11 trillion, or 65 percent of the size of its economy.
…
Instead of spending its riches lavishly, it passed legislation ensuring that oil revenue went straight into its sovereign wealth fund, state money that is used to make investments around the world. Now its sovereign wealth fund is close to being the largest in the world, despite losing 23 percent last year because of investments that declined.
Their finance minister belongs to the “Socialist Left Party.”
Of course the argument against Norway’s system is the jobless bum leeching off of it to buy drugs. But at the macro level it looks like Norway’s socialist system could be something even most of the hardcore capitalists would be envious of.
May 13, 2009 at 7:40 PM #398791ParticipantThriving Norway Provides an Economics Lesson
Norway has thrived by going its own way. When others splurged, it saved. When others sought to limit the role of government, Norway strengthened its cradle-to-grave welfare state.
…
And in the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.
By comparison, the United States is expected to chalk up a fiscal deficit this year equal to 12.9 percent of its gross domestic product and push its total debt to $11 trillion, or 65 percent of the size of its economy.
…
Instead of spending its riches lavishly, it passed legislation ensuring that oil revenue went straight into its sovereign wealth fund, state money that is used to make investments around the world. Now its sovereign wealth fund is close to being the largest in the world, despite losing 23 percent last year because of investments that declined.
Their finance minister belongs to the “Socialist Left Party.”
Of course the argument against Norway’s system is the jobless bum leeching off of it to buy drugs. But at the macro level it looks like Norway’s socialist system could be something even most of the hardcore capitalists would be envious of.
May 13, 2009 at 7:40 PM #399020ParticipantThriving Norway Provides an Economics Lesson
Norway has thrived by going its own way. When others splurged, it saved. When others sought to limit the role of government, Norway strengthened its cradle-to-grave welfare state.
…
And in the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.
By comparison, the United States is expected to chalk up a fiscal deficit this year equal to 12.9 percent of its gross domestic product and push its total debt to $11 trillion, or 65 percent of the size of its economy.
…
Instead of spending its riches lavishly, it passed legislation ensuring that oil revenue went straight into its sovereign wealth fund, state money that is used to make investments around the world. Now its sovereign wealth fund is close to being the largest in the world, despite losing 23 percent last year because of investments that declined.
Their finance minister belongs to the “Socialist Left Party.”
Of course the argument against Norway’s system is the jobless bum leeching off of it to buy drugs. But at the macro level it looks like Norway’s socialist system could be something even most of the hardcore capitalists would be envious of.
May 13, 2009 at 7:40 PM #399078ParticipantThriving Norway Provides an Economics Lesson
Norway has thrived by going its own way. When others splurged, it saved. When others sought to limit the role of government, Norway strengthened its cradle-to-grave welfare state.
…
And in the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.
By comparison, the United States is expected to chalk up a fiscal deficit this year equal to 12.9 percent of its gross domestic product and push its total debt to $11 trillion, or 65 percent of the size of its economy.
…
Instead of spending its riches lavishly, it passed legislation ensuring that oil revenue went straight into its sovereign wealth fund, state money that is used to make investments around the world. Now its sovereign wealth fund is close to being the largest in the world, despite losing 23 percent last year because of investments that declined.
Their finance minister belongs to the “Socialist Left Party.”
Of course the argument against Norway’s system is the jobless bum leeching off of it to buy drugs. But at the macro level it looks like Norway’s socialist system could be something even most of the hardcore capitalists would be envious of.
May 13, 2009 at 7:40 PM #399223ParticipantThriving Norway Provides an Economics Lesson
Norway has thrived by going its own way. When others splurged, it saved. When others sought to limit the role of government, Norway strengthened its cradle-to-grave welfare state.
…
And in the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.
By comparison, the United States is expected to chalk up a fiscal deficit this year equal to 12.9 percent of its gross domestic product and push its total debt to $11 trillion, or 65 percent of the size of its economy.
…
Instead of spending its riches lavishly, it passed legislation ensuring that oil revenue went straight into its sovereign wealth fund, state money that is used to make investments around the world. Now its sovereign wealth fund is close to being the largest in the world, despite losing 23 percent last year because of investments that declined.
Their finance minister belongs to the “Socialist Left Party.”
Of course the argument against Norway’s system is the jobless bum leeching off of it to buy drugs. But at the macro level it looks like Norway’s socialist system could be something even most of the hardcore capitalists would be envious of.
May 13, 2009 at 8:23 PM #398590CA renter
Participantafx, you nailed it on the black/white argument.
Also, the opposite of capitalism is communism, not socialism.
When I speak of socialism, I’m referring to a European-style socialism where there is private property, and wages are commensurate with skills and education, but that the government monitors trends and makes sure that the health of the general society is not harmed by the greed and activities of a few dangerous/powerful people.
May 13, 2009 at 8:23 PM #398841Participantafx, you nailed it on the black/white argument.
Also, the opposite of capitalism is communism, not socialism.
When I speak of socialism, I’m referring to a European-style socialism where there is private property, and wages are commensurate with skills and education, but that the government monitors trends and makes sure that the health of the general society is not harmed by the greed and activities of a few dangerous/powerful people.
May 13, 2009 at 8:23 PM #399070Participantafx, you nailed it on the black/white argument.
Also, the opposite of capitalism is communism, not socialism.
When I speak of socialism, I’m referring to a European-style socialism where there is private property, and wages are commensurate with skills and education, but that the government monitors trends and makes sure that the health of the general society is not harmed by the greed and activities of a few dangerous/powerful people.
May 13, 2009 at 8:23 PM #399128Participantafx, you nailed it on the black/white argument.
Also, the opposite of capitalism is communism, not socialism.
When I speak of socialism, I’m referring to a European-style socialism where there is private property, and wages are commensurate with skills and education, but that the government monitors trends and makes sure that the health of the general society is not harmed by the greed and activities of a few dangerous/powerful people.
May 13, 2009 at 8:23 PM #399276Participantafx, you nailed it on the black/white argument.
Also, the opposite of capitalism is communism, not socialism.
When I speak of socialism, I’m referring to a European-style socialism where there is private property, and wages are commensurate with skills and education, but that the government monitors trends and makes sure that the health of the general society is not harmed by the greed and activities of a few dangerous/powerful people.
May 13, 2009 at 9:37 PM #398660patientrenter
Participantafx, i’m all for the best of both worlds in between solutions. but norway is a special case. massive oil revenues and a small, homogeneous, well-educated population.
norway’s lesson for usa: reduce your population by 95%, and things will be easier for the people left.
May 13, 2009 at 9:37 PM #398911Participantafx, i’m all for the best of both worlds in between solutions. but norway is a special case. massive oil revenues and a small, homogeneous, well-educated population.
norway’s lesson for usa: reduce your population by 95%, and things will be easier for the people left.
May 13, 2009 at 9:37 PM #399140Participantafx, i’m all for the best of both worlds in between solutions. but norway is a special case. massive oil revenues and a small, homogeneous, well-educated population.
norway’s lesson for usa: reduce your population by 95%, and things will be easier for the people left.
May 13, 2009 at 9:37 PM #399198Participantafx, i’m all for the best of both worlds in between solutions. but norway is a special case. massive oil revenues and a small, homogeneous, well-educated population.
norway’s lesson for usa: reduce your population by 95%, and things will be easier for the people left.
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