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Switzerland and Norway would come to mind. Norway has a large sovereign wealth fund created just for the purpose of keeping up an income stream once North Sea
by nshelly 10y ago
Switzerland and Norway would come to mind. Norway has a large sovereign wealth fund created just for the purpose of keeping up an income stream once North Sea oil runs out. Germany and Japan are possibly the only ones close to the US's size and scale in population (3-4x smaller).
- nugget 10y agoWouldn't the EU as a whole (led by Britain, Germany, and France) be similar to the US? EU + US + Japan = the vast majority of the first world. Norway has done well for themselves but it's a tiny country with massive natural resources and a stable, homogeneous population; it's hard to draw conclusions from their experience that are applicable to the rest of the world.
- nshelly 10y agoYes, but I wouldn't consider France and the UK necessarily fiscally conservative overall. Moreso than the US - think QE2 and QE3 vs the UK's "age of austerity" under David Cameron through 2015, well after the start of the Great Recession.