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« Three on this year's graduation-speaker kerfluffle | Main | Congratulations, Mick . . . but damn, I'm getting old »

May 20, 2014

"The End Of An Oil Boom Is Threatening Norway's Welfare Model"

I think we've known at least since the fall of the Spanish Empire that natural resources, alone, don't promote long-run prosperity


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Well, the Norwegians have clearly known that for decades, since they've not spent any oil money for that long, but invested all of it in stocks. And run the economy off the non-oil income, much like the other Nordics do.

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