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0 pointsSvip5y ago0 comments

Norway kind of proves it is possible to make it work without the corruption. But Norway also proves that you need to lay the groundwork for that, before you lay any actual groundwork. I am not sure if these other oil producing states could reach a level of stability as Norway.

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dgut5y ago

Norway used to be a relatively poor country by Western European standards but had a functional economy before oil. Homogeneity, a staunchly hard-working and independent population, being surrounded by lutheran economies, and "bondevett", is why Norway turned out well.

qwytw5y ago

That's not really true, Norway was one of the richest countries in the world long before the oil boom. In Europe it was only behind Luxembourg, Switzerland and Sweden by GDP per capita in 1960.

dgut5y ago

You're right. I've lived in Norway and was repeatedly told by Norwegians the country used to be poor, something I believed (there isn't much in Norway that reminds of a wealthy past). Apparently it's just a myth [1][2].

[1] https://www.dnva.no/detskjer/2019/11/en-feiloppfatning-norge...

[2] https://www.aftenposten.no/meninger/kronikk/i/LM1L1/Hvorfor-...

pydry5y ago

Norway proves it's possible. However, without a second clear example it's difficult to prove exactly what it is about Norway that makes it possible. Is it culture? Wealth? The timing? Sheer good luck in governance? A combination? It's hard to tell.

The far right frequently claim it's something to do with a lack of colored immigrants, for instance.

bluGill5y ago

Your racist characterization of the far right detracts from your point.

JumpCrisscross5y ago

> Norway kind of proves it is possible to make it work without the corruption

The Norwegian state and identity were formed before oil.

SvipOP5y ago

I am not sure Francisco de Miranda and Simón Bolivar had oil on their minds when they effectively established Venezuela as an independent state from Spain.

ars5y ago

Norway does not prove that at all.

Norway has almost no industry other than oil. If oil shut down tomorrow their sovereign fund could keep the country running for about 10 years.

10 years isn't really long enough to transition to other industries. It's barely long enough to educate the next generation in new technology.

(Source: Norway's imports per capita were $16.9k, and its fund is $195K per capita.)

Norway is hoping that oil will shut down slowly, giving them time to transition, using the fund as a cushion. But historically industries tend to shut down "slowly, then all at once".

Edit: I didn't see you wrote "work without the corruption". My reply is misdirected, my reply is about the economy. In regards to corruption I agree with you.

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dgut5y ago

qwytw5y ago

That's not really true, Norway was one of the richest countries in the world long before the oil boom. In Europe it was only behind Luxembourg, Switzerland and Sweden by GDP per capita in 1960.

dgut5y ago

[1] https://www.dnva.no/detskjer/2019/11/en-feiloppfatning-norge...

[2] https://www.aftenposten.no/meninger/kronikk/i/LM1L1/Hvorfor-...

pydry5y ago

The far right frequently claim it's something to do with a lack of colored immigrants, for instance.

bluGill5y ago

Your racist characterization of the far right detracts from your point.

JumpCrisscross5y ago

> Norway kind of proves it is possible to make it work without the corruption

The Norwegian state and identity were formed before oil.

SvipOP5y ago

I am not sure Francisco de Miranda and Simón Bolivar had oil on their minds when they effectively established Venezuela as an independent state from Spain.

ars5y ago

Norway does not prove that at all.

Norway has almost no industry other than oil. If oil shut down tomorrow their sovereign fund could keep the country running for about 10 years.

10 years isn't really long enough to transition to other industries. It's barely long enough to educate the next generation in new technology.

(Source: Norway's imports per capita were $16.9k, and its fund is $195K per capita.)

Norway is hoping that oil will shut down slowly, giving them time to transition, using the fund as a cushion. But historically industries tend to shut down "slowly, then all at once".

Edit: I didn't see you wrote "work without the corruption". My reply is misdirected, my reply is about the economy. In regards to corruption I agree with you.

j / k navigate · click thread line to collapse