• Pelicanen@sopuli.xyz
        link
        fedilink
        arrow-up
        10
        ·
        1 year ago

        And when Finland or Denmark were the happiest countries, Norway’s oil wasn’t really that much of a factor.

        • Poiar@sh.itjust.works
          link
          fedilink
          arrow-up
          10
          arrow-down
          2
          ·
          edit-2
          1 year ago

          Finding oil tends to fuck up a nation, making the nation’s other industries unable to compete due to the currency being too strong.

          That Norway succeed in remaining a stable state after finding oil is a bit amazing, seeing as oil nations tend to become ruled by oligarchies.

          I.e., the guy you’re responding to makes no sense. Having oil usually means that you become an undemocratic hell hole.

          • incogtino@lemmy.zip
            link
            fedilink
            arrow-up
            2
            ·
            1 year ago

            I’m sure this is a stupid simple take, but could a nation like Norway avoid this (at least for a while) by selling oil in other currencies and maintaining their investments in other currencies?

            • w2qw@aussie.zone
              link
              fedilink
              arrow-up
              1
              ·
              edit-2
              1 year ago

              What currency the selling is done in probably doesn’t matter but yes Norway maintains one of the largest sovereign wealth funds.

              The issue is in undemocratic countries there’s usually a preverse incentive to not educate people to maintain control of the country. Non resource rich countries have to educate their population to improve productive output.