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Coming from Norway I highly recommend finding oil and having a socialist government. Great way to make the country rich. Hard for others to reproduce though.

WalterBright 2y ago
Any economy can be rich if it's floating on an ocean of oil.
- gmac 2y ago
  And yet the Norwegians, unusually, have managed to do it in a way where ordinary people benefit.
  - WalterBright 2y ago
    It's still irrelevant to this topic as Norway did not create wealth, it just pumped it out of the ground.
    - gmac 2y ago
      I strongly disagree, as long as you frame the topic more reasonably as 'Want growth (that doesn't only benefit a small group of kleptocrats)?'.
      - WalterBright 2y ago
        Unless you allege that socialism can create an ocean of oil under the country, I'm not buying that.
MadDemon 2y ago
This can go both ways. Have you heard of Venezuela?
slig 2y ago
Too bad it didn't work out for Venezuela.
- jansan 2y ago
  It didn't work for Angola, either.
- nickpp 2y ago
  A communist government will manage to convert any riches into abject poverty. Every single time.
  - hmottestad 2y ago
    You might be confusing communism with dictatorship.
    - nickpp 2y ago
      I assure you I am not. I lived under communism so I know it’s stench. It is usually quickly followed by dictatorship though, since force must be used to keep people living under it. Otherwise productive people will naturally pursue prosperity for themselves and their loved ones, which leads straight to capitalism.
      - hmottestad 2y ago
        Can’t say much for Angola, but Venezuela has been a dictatorship since Chavez took to power. A friend of mine was told to come in to register her passport at the embassy so she could vote in the upcoming elections, her passport was returned a few days after the elections. It’s easy to be elected president when the people who vote against you can’t vote. There’s China though. Their party is at least called a communist party. I wouldn’t call their politics communism, except for their land ownership laws. Basically a dictatorship, since anyone opposing the government seemingly ends up in prison. Hasn’t seemed to hinder their economic growth.
JohnBrookz 2y ago
1. An economy driven by physical commodities like oil are susceptible to corruption and stagnation. 2. Norways dependence on oil has prevented it from doing anything meaningful economically or technologically.
- hmottestad 2y ago
  Don’t forget about our pretty large aluminium industry, arms exporter or salmon exporter.

WalterBright 2y ago

Any economy can be rich if it's floating on an ocean of oil.

gmac 2y ago
And yet the Norwegians, unusually, have managed to do it in a way where ordinary people benefit.
- WalterBright 2y ago
  It's still irrelevant to this topic as Norway did not create wealth, it just pumped it out of the ground.
  - gmac 2y ago
    I strongly disagree, as long as you frame the topic more reasonably as 'Want growth (that doesn't only benefit a small group of kleptocrats)?'.
    - WalterBright 2y ago
      Unless you allege that socialism can create an ocean of oil under the country, I'm not buying that.

MadDemon 2y ago

This can go both ways. Have you heard of Venezuela?

slig 2y ago

Too bad it didn't work out for Venezuela.

jansan 2y ago
It didn't work for Angola, either.
nickpp 2y ago
A communist government will manage to convert any riches into abject poverty. Every single time.
- hmottestad 2y ago
  You might be confusing communism with dictatorship.
  - nickpp 2y ago
    I assure you I am not. I lived under communism so I know it’s stench. It is usually quickly followed by dictatorship though, since force must be used to keep people living under it. Otherwise productive people will naturally pursue prosperity for themselves and their loved ones, which leads straight to capitalism.
    - hmottestad 2y ago
      Can’t say much for Angola, but Venezuela has been a dictatorship since Chavez took to power. A friend of mine was told to come in to register her passport at the embassy so she could vote in the upcoming elections, her passport was returned a few days after the elections. It’s easy to be elected president when the people who vote against you can’t vote. There’s China though. Their party is at least called a communist party. I wouldn’t call their politics communism, except for their land ownership laws. Basically a dictatorship, since anyone opposing the government seemingly ends up in prison. Hasn’t seemed to hinder their economic growth.

JohnBrookz 2y ago

1. An economy driven by physical commodities like oil are susceptible to corruption and stagnation. 2. Norways dependence on oil has prevented it from doing anything meaningful economically or technologically.

hmottestad 2y ago
Don’t forget about our pretty large aluminium industry, arms exporter or salmon exporter.