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Probably one of the best examples of how natural resource wealth has been preserved and invested for the whole nation, instead of being lost to the pockets of f
by dharma1 12y ago
Probably one of the best examples of how natural resource wealth has been preserved and invested for the whole nation, instead of being lost to the pockets of few through privatisation, corruption or mismanagement of funds.
I think the magic ingredients (aside from being lucky with natural resources in the first place) are egalitarian society, high level of trust, very low level of corruption, a functioning democratic government and highly skilled fund managers.
- thomasfl 12y agoAnother Norwegian here. I think you are right. The high level of education also helps. But it was actually an Iraqian immigrant named Farouk al-Kasim that proposed the laws to protect Norways natural oil and gas resources. Further reading: http://www.ft.com/cms/s/0/99680a04-92a0-11de-b63b-00144feabdc0.html#axzz3BUIU9zB6 http://www.ft.com/cms/s/0/99680a04-92a0-11de-b63b-00144feabd...
- dharma1 12y agoFinnish, not Norwegian - I think you guys have done great. Read the story of Farouk al-Kasim a few months ago, fascinating. It does seem like a stroke of luck that the right people were there in the beginning. His nationality is both ironic and sad considering where Iraq is today
- touristtam 12y agoCould it be the same one: http://www.psmag.com/navigation/nature-and-technology/iraqi-vikings-farouk-al-kasim-norway-oil-72715/ http://www.psmag.com/navigation/nature-and-technology/iraqi-... ?
- VMG 12y agoFurther listening: NPR Planet Money Podcast: "Norway Has Advice For Libya" http://www.npr.org/blogs/money/2011/08/26/139972557/the-friday-podcast-norways-got-advice-for-libya http://www.npr.org/blogs/money/2011/08/26/139972557/the-frid...
- fnordsensei 12y agoThis must really be upsetting for the extreme liberals of the country. "Public resources being invested sensibly! Horrifying! You can tell that this is an awful idea by looking at how miserable the people of Norway are, and how badly their businesses are doing. You should liberate yourselves by giving all of it to private interests. That's the definition of freedom!" /end sarcasm
- sanoli 12y agoI think you were downvoted because in the U.S. the term 'liberal' has a different meaning than in different parts of the world.
- nly 12y agohttps://en.wikipedia.org/wiki/Liberalism_by_country https://en.wikipedia.org/wiki/Liberalism_by_country
- fnordsensei 12y agoOops. YMMV.
- nly 12y ago'Liberal' parties in much of Europe lean toward socialism, pushing for higher taxes and better public services. Over here, the people you describe as liberals would be considered extremist conservative.
- lilsunnybee 12y agohttp://en.wikipedia.org/wiki/Economic_liberalism http://en.wikipedia.org/wiki/Economic_liberalism Different definitions. The current American political ones aren't universal by any means.