5 ms·
It's the combination of being a Nordic social democratic + having large oil reserves.
by ath92 6y ago
It's the combination of being a Nordic social democratic + having large oil reserves.
- kwhitefoot 6y agoSweden is doing pretty well too. No oil there.
- jacquesm 6y agoSweden is a pretty impressive industrial exporter.
- jacquesm 6y agoAnd more importantly: not spending the money from that oil wealth in a stupid way but setting it up to generate future revenue streams that benefit everybody. As opposed to other countries which squandered their riches on short term stuff.
- antwerpz 6y agoTo be fair, there is not really any other country to compare them to on this. No country which was already rich, stable, democratic and well-educated has ever received such a large resources windfall as Norway did from North Sea Oil.
- jacquesm 6y agoNL, UK.
- antwerpz 6y agoNL has a far, far smaller share of North Sea Oil than Norway (and 3 times the population) The UK has a similar share (actually slightly smaller) with over 10 times the population.
- jacquesm 6y agoAll the more reason to use that windfall responsibly and to preserve the proceeds. NL in particular was extremely wasteful, especially with their natural gas resources which were sold for a ridiculously low amount to foreign customers, and which they now re-import at much inflated prices.
- deleted 6y ago[deleted]