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by dv_dt
3313 days ago
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Norway is not freely spending the oil wealth, instead it's going into a sovereign wealth fund with protections on spending. So I really don't think you can dismiss their success with their oil reserves. Norway's approach seems to be a very smart way to handle the oil wealth and atypical of most outcomes. See the phrase "resource curse," natural resource riches like oil typically hurt the economic growth of the nations that should be benefiting from it. |
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