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The Index of Economic Freedom is based on ideological arguments, not material analysis. Norway's government revenue makes up about 60% of its GDP [1], in part d
by indigo945 3y ago
The Index of Economic Freedom is based on ideological arguments, not material analysis. Norway's government revenue makes up about 60% of its GDP [1], in part due to its share in oil, gas and fishing - this is in the top ten in the world. Venezuela actually has the lowest share of government revenue in the world, at about 5% of GDP [1], the black markets caused by hyperinflation probably playing a part here.
[1]: https://en.m.wikipedia.org/wiki/List_of_countries_by_government_spending_as_percentage_of_GDP https://en.m.wikipedia.org/wiki/List_of_countries_by_governm...
- 0xBDB 3y agoA better measure than revenue would be public ownership of property, but this produces some surprising results. I am not sure whether the fact that Singapore is the second most socialist country on the planet would likely be more distressing to the left or the right. https://www.peoplespolicyproject.org/2018/03/09/how-capitalist-is-singapore-really/ https://www.peoplespolicyproject.org/2018/03/09/how-capitali...