Norway: Is It The Perfect Economy?

This video was made possible by our Patreon community! ❤️
See new videos early, participate in exclusive Q&As, and more!

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

Norway's Economy has been used as the poster child for a socialist mixed economy done right? Is it really the perfect economy or just another country that won the oil lottery?

📚 Want to learn more about Norway's economy? We recommend reading "Viking Economics: How the Scandinavians Got It Right-and How We Can, Too ", by George Lakey

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

Enjoyed the video? Comment below! 💬
⭑ Enjoyed? Hit the like button! 👍

Follow EE on social media:
#Norway #Economics #EconomicsExplained

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

Sources & Citations -

Hellevik, O., 2003. Economy, values and happiness in Norway. Journal of Happiness Studies, 4(3)

Klein, L.R., 1948. Planned Economy in Norway. The American Economic Review, 38(5),

Richardson, B.J., 2011. Sovereign wealth funds and the quest for sustainability: insights from Norway and New Zealand. NJCL, p.i.

Backer, L.C., 2009. Sovereign wealth funds as regulatory chameleons: The Norwegian sovereign wealth funds and public global governance through private global investment. Geo. J. Int'l L

Andreß, H.J. and Heien, T., 2001. Four worlds of welfare state attitudes? A comparison of Germany, Norway, and the United States. European Sociological Review

Music: Brandenburg Concerto No4-1 BWV1049 - Classical Whimsical by Kevin MacLeod is licensed under a Creative Commons Attribution license

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

EE Fan Exclusive Offer:

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀

ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏

The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:

Morgon Goranson, Andy Potanin, Wicked Pilates, Tadeáš Ursíny, Logan, Angus Clydesdale, Michael G Harding, Hamad AL-Thani, Conrad Reuter, Tom Szuszai, Ryan Katz, Jack Doe, Igor Bazarny, Ronnie Henriksen, Irsal Mashhor, LT Marshall, Zara Armani, Bharath Chandra Sudheer, Dalton Flanagan, Andrew Harrison, Hispanidad, Michael Tan, Michael A. Dunn, Alex Gogan, Mariana Velasque, Bejomi, Sugga Daddy, Matthew Collinge, Kamar, Kekomod, Edward Flores, Brent Bohlken, Bobby Trusardi, Bryan Alvarez, EmptyMachine, Snuggle Boo Boo ThD, Christmas

[EconomicsExplained]

Thanks for watching EE nation! ❤️ If you enjoyed, please consider supporting the show on Patreon! 😎
See new videos early, participate in exclusive Q&As, and more!

[Erik]

- Be a western country
- Find oil
- Don't spend it all at once
Got it

[ThomasGabrielsen]

I'm Norwegian, but I don't feel rich. I feel free and safe, and that's priceless.

[MinnaPratt]

I believe they were luckier having honest politicians at the time of finding oil than in finding oil itself.

[TomsTinkeringandAdventures]

How to succeed financially:
1: Win the lottery
2: Continue driving 12 year old Honda Civic with dented fender

[Ian-ewpd]

Norway listened to grandma when she said: "don't spend it all in one place."

[falx]

You know that half of the views on here are norwegians like myself watching to boost our egos

[Reanimator]

"Norway is like a guy who wins lottery, but keep his day job and invest in stock portfolios".

[Gremlinbk]

I moved from Poland to Norway, and for me, taxes are almost the same, cost of living is not that high, but everything contented to services is very expensive. But in my opinion, the success of Norway to use this what was given to the country, comes from the people. Norwegians are willing to help each other, they are very sosial responsible, and the old generation was used to work. It's also a land of opportunities for the hard working and willing people.
Jeg bare elsker Norge ♥️🇳🇴♥️

[sergiubarac]

Norway is like a person with brains who won the lottery.

[noraoeien]

in most countries - what you want is cheap (like eating out, and Things in general), and what you need is expensive (like education and medical help). in norway its the opposite! :)

[markkamau]

''Norway was a
member of NATO and so it did not get the ''freedom'' treatment that other countries did when they tried out this nationalising business''

[aquajuwel]

What I love the most about Norway is the fact that i grew up in a poor household, but education was free so today I’m a lawyer, and not poor. Everyone is given a chance and its up to you how you deal with it. The state will help you so that you can rise above your living conditions and be an asset to the country and fellow man. I love that……

[madsr.]

The reason cars are so expensive in Norway are not the production cost an sales profit. It is because we have special taxes to protect the inviorment. That is also why Tesla’s are kinda cheap. (They don’t have to pay a gas car fee)

[hassanihsan]

Being an Iraqi citizen and watching this is making me feel extremely depressed. We are neither saving the money for future investment like Norway or wasting it on fancy skyscrapers and cities like the UAE or Saudi Arabia. It doesn't even go into our army, since our army is really bad and lacking in equipment. I simply have no idea where our money is going.

[-narratornorht--]

Norwegian video: *exists*

Norwegian people: hmm, yes another piece of art. *click*

[Kasmodamous]

As a Norwegian i feel safe and comfortable in my home, and to me, that's better than all the money in the world.

[noname-dpgn]

Interestingly, Iran tried to do the exact same thing in 1951 but received the American democracy treatment in 1953.

[niklasvilhelm]

Norway: lvl 1 crook
*Finds oil*
Norway: lvl 100 Mafia boss

[aj]

Norway: finding huge oil reserves
Don't get corrupted politicians ✓
Don't get "freedom treatment" 😂✓
Don't get luxury ✓
Don't spend it all in military✓
Don't have to worry for generations✓
Today was a good day