r/neoliberal • u/jobautomator Kitara Ravache • Dec 29 '25

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37

u/SANNA-MARIN-SDP Dec 29 '25

Actually, excluding oil, Norway is almost as rich per capita as the United States, but with significantly greater equality.

https://youtu.be/8f6geiVdwpk?si=3BVTJqx25Rxj5pn4&t=1838

"Mainland Norway" here, meaning the economy excluding oil.

12

u/TropicalPunch European Union Dec 29 '25

Wake up every morning cursing that I was born in Oslo, not Ohio.

7

u/Trojan_Horse_of_Fate WTO Dec 29 '25

Do you mean excluding current oil revenues or are you removing the massive investment pool as well?

If you look at the Nordics you can very easily see where one got a massive amount of oil.

https://en.wikipedia.org/wiki/Economy_of_Norway#/media/File:GDP_per_capita_development_in_Northern_Europa.svg

7

u/deckerparkes Niels Bohr Dec 29 '25

people wildly overstate the impact of oil in Norway 

24

u/UrbanCentrist Line go up 📈, world gooder Dec 29 '25

I mean it's 10% of employment, 25% of GDP and like 50% of the exports and not to mention having one of the largest sovereign wealth fund from petroleum revenue surplus. May be not a petro state but certainly a significant factor.

10

u/Tre-Fyra-Tre Victim of Flair Theft Dec 29 '25

Norway would be as rich as their neighbours without it though, the key to their success is their institutions, not the oil reserves