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I'm from Norway and the economy is quite regulated. We're still/therefore (take your pick) very successful [1]. Macro economy is complicated. It seems obvious

I'm from Norway and the economy is quite regulated. We're still/therefore (take your pick) very successful [1]. Macro economy is complicated. It seems obvious to me the it's not as simple as "just let everyone run free". On the other hand regulation has it's disadvantages as well. Complicated. [1] as in #3 in the world: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomi...

panitaxx 9y ago
It is complicated. Sweden also seems very regulated (as most of the EU).
krrrh 9y ago
Measuring "regulation" isn't straightforward, but based on the Heritage Foundation's criteria, Norway has a relatively light load. It's basically on par with the US.[1] Its a very free economy by international standards. Venezuela is near the bottom of the list, just above North Korea. Economic regulation and the extent of the social safety net can be quite independent of each other. [1] http://www.heritage.org/index/ranking http://www.heritage.org/index/ranking