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by useerup
3741 days ago
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The "financed by oil" is exclusive to Norway. No other Scandinavian/Nordic country enjoys similar fortune. But it may highlight another point that could be made: Instead of corrupting the country similar to the oil-rich arab states, the norwegians have managed the richness with a typical Scandinavian common-sense (Lutheran?) approach: Define the oil richness as a common good and make sure to invest profits for future generations rather than burn it all on the current generation. http://www.huffingtonpost.ca/2014/01/11/oil-fund-norway-mill... But, as I said - that is a luxury only Norway has enjoyed. |
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In fairness, the model used for managing the oil in Norway was created by an Iraqi immigrant. (http://web.archive.org/web/20090831100821/http://www.ft.com/...)