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@@deebee8825 The cost of living is very high as was pointed out in the video with the car prices but we get tax relief (tax cut) when we buy a house, get married, have children or buy a car. So we actually benefit financially by buying and doing these things. And also, it's so much freedom and different cultures
Nope, there are no honest påoliticians.. our Gro Harlem Brundtland, is a main contributer to the agenda 21 plan for the world. and the rest of them are not better.
@@Goldenhawk583 says: "Nope, there are no honest påoliticians.. our Gro Harlem Brundtland," == You have no idea what's going on outside the country of Norway. Do you think Trump is honest?
@@allgoo1964 I wrote there are no honest politicians.. what makes you think I believe Trump is honest? I have a fairly good idea of what is going on outside of norway, as well as inside norway, and the funny thing is.. it is generally the same thing.. fraud, lies, corruption, more lies, and the richer getting richer while more and more ordinary people go poor.
@@Goldenhawk583 hah yes the Norwegian fisheries minister there is totally corrupt, using bad chemicals on the farmed salmon... that she also sells through a business she owns buts tries to hide, plus ensuring that those researchers who found out to get fired, I mean made *redundant*... But all in all Norge is an amazing country, confident in who they are, and how they handled their resources by keeping the majority of the profit for the future generations puts resource-rich countries like Australia to shame.
@@SPM1X you are so correct about the fish, and all the lies surrounding that.. some consider farmed fish the most toxic food in the world.. I dont eat it. From the outside, Norway may look good, but the future generation they are saving it for, is the political and wealthy. The common man in norway, is treated just as much like a neglected working horse as anyone else. It used to be better, but we are catching up . It is very hard for youth to get work, and it gets worse every year.. it is hard for other too, but mostly youth. I am on disability, and while i do have a steady income today, it will not last once the financial system breakes completely. Also, my income, if I wanted to live "like everyone else" is far from enough. Renting a small apartment at normal cost, would take half of what I have after tax. Electricity would take another 10%. After paying insurance.. phone, internet, I would not have enough to eat healthy, much DO anything. So I did something else.. It may sound like a luxury problem, but it is pure slavery..keeping you locked in a small cage, preventing you from doing anything. Norwegian politicians have bosses, just like all other politicians. They do not work for the people, only for themselves and their bosses. Ordinary people are live stock... not seen as humans, just an income source to be exploited. Allowing ourselves to be trapped like this.. believing big mouthed people,, trading our freedom for obediance and fake safety.. is the biggest mistake we ever did. I do not need a government.. I can govern myself, and treat other people well, without having a government look out for me..
I moved from Poland to Norway, and for me, taxes are almost the same, cost of living is not that high, but everything contented to services is very expensive. But in my opinion, the success of Norway to use this what was given to the country, comes from the people. Norwegians are willing to help each other, they are very sosial responsible, and the old generation was used to work. It's also a land of opportunities for the hard working and willing people. Jeg bare elsker Norge ♥️🇳🇴♥️
Absolutely right. The people are great 👍 , I live in Norway 22 years now. The best place I have ever been. The point is not to be rich but to be happy. If someone wants to be rich there is a price you must pay . Norwegian are the most positive sincere and honest people . Many people under your comment don’t realize that being rich is having responsibility. They think wrong and primitive. They think that big busses will find them . No , it doesn’t work like that . To have money and keep it is knowledge , discipline and sacrifice of your life . It’s nothing about sick narcissistic dreams. Best regards Daniel
Spend what, rain of snow or spend fake news all the time, norway have no money from the beginning, it's all fake news that you hear. After norwegian taxes you ended up with nothing left.
@You're right i agree with you piece of shit you don't know me, I'm richer than and your entire norwegian family. You all are fake and deluding turists to come to your refrigerator freezing shit country.
Norway: finding huge oil reserves Don't get corrupted politicians ✓ Don't get "freedom treatment" 😂✓ Don't get luxury ✓ Don't spend it all in military✓ Don't have to worry for generations✓ Today was a good day
Yup, we were lucky. But have no illusions, there are plenty of politicians arguing a spending frenzy to buy votes. We simply value our model to much for that to to work. Also, its because of NATO that we can feel safe from other countries. For all its problems, the US has played a role in the world that even future generations of Norwegians should be thankful for.
@@peterpeterpeter6315 "its because of NATO that we can feel safe from other countries" ===>Russia isn't interested in Norway, nor does it perceive it as a threat! Sweden/Finland aren't part of NATO and they feel perfectly safe from exterior threats???
@@peterpeterpeter6315 Well my point being is, that Norway could be even safer if it wasn't a part of NATO. (If you stay out of USA's imperial wars, less chance of refugees coming to your country)
@@ABC-ABC1234 While Sweden is not an official member of NATO, the country housed NATO equipment and staff during the cold war, i think there was even cases of american spyplanes using military airfields. I think it was a sort of open secret that sweden in reality was a "semi-member" of NATO at the time. As for Finland it is sort of important to remember that the country was in open all out war with the Soviet union duing WW2 and lost, so they were not in a really good position to do anything that could provoke the Soviets, in a way its sort of impressive that they were NOT incorporated in the union, i believe Finland at one point was a grand duchy of Russia. The point of this being im not really sure one can say that they feel/felt safe from exterior threats as much as it is that they could not really do anything about them.
Too bad they are dependent on the stock market. They lost like 1/3 of the fund during the 2008 crisis. It has since recovered but if there was a Great Depression and no bailout then they would be having to tighten their wallets even harder. So yeah, not the smartest of ideas. I would take realistic improvements over paper stock money any day of the week.
Hello, how're you doing?I’m a licensed account manager , I promote worthy investment plans, in the likes of Forex, our local digital currencies and also mentor the blockchain technology, ever came across the word forex??
@@jeffschlarb4965 You're so blind to the stupid corrupted politics America loves to play that you don't even realize how dumb you are... Your comment shows me how strong people's person bias is, to the point where they become irrational.
@@CombineWatermelon Fair, as a non-American, I don't have much opinion either way, all I know is pretty much based off of memes and stuff, and idk anything about the actual ideals and intentions of either side in this case
More specifically, it was because of British Petroleum, or Britain's, loss of control on Iran's oil that they turned to US to try to oust Mosaddeq, Iran's leader at the time. Then everything went to shit until you have the current theocracy. www.britannica.com/place/Iran/Wartime-and-nationalization-of-oil
America just wanted to spread their uncorrupted dollar thats it. Trust me it will happen in Europe soon too. Some day you are going to see "dollars" drop from the sky in fuckin PARIS.
What I love the most about Norway is the fact that i grew up in a poor household, but education was free so today I’m a lawyer , and not poor. Everyone is given a chance and its up to you how you deal with it. The state will help you so that you can rise above your living conditions and be an asset to the country and fellow man. I love that……
Fellow lawyer here. Not really poor background, but son of a cop and a kindergarten worker, so certainly not from a socioeconomic elite. Norwegian social mobility possibilities are among the very very best in the world, and way above the US.
Venezuela was ostracized from the global market by the U.S. when they nationalized their oil as well. Remember when he said Norway was part of NATO and didn't receive the freedom treatment? He wasn't just talking about imperialism. The same type of sanctions we apply to Venezuela would never fly if we tried to impose them on these well established EU countries.
@@w4e5tjh5 they put sanctions on Venezuela oil in 2019 due to Human rights issues and to pressure Maduro's resignation. Prior restrictions on trade put in under Bush and Obama at different times too. There were embargoes on OPEC nations which included Venezuela and Saudi Arabia decades prior to that, but there was an entire rest of the world for these nations to sell to and adjust their industry around. They failed because of poor economic practices and communist idiocy
@@Forestgravy90 No, I was throwing a bone. Pointing out that there was a bad idea economically, does not mean that it was the main reason why the nation crumbled. If you look at the Roman Empire, you would see one reason why they fell. But a closer look will reveal that there were many more variables at play that might have even contributed more than the one problem that you identified. This isn't about "I don't like it". It's about what is true and accurate. Between you and me, the person who doesn't like what's being said would be you. Because you are the one who is banking on the narrative that Venezuela failed because of Communism. I'm just simply pointing out that it doesn't look good for America to continue hurting a country in a crisis. Would you take such issue with me pointing out that a bully constantly kicking the kid on the ground is not a good look for the bully, when the bully is claiming that the kid they are kicking hurt themselves? I'd expect the answer is no. And therefore I have no idea why you responded in the way you did, if the answer was truly no.
@@Hunterchuck you seriously need to actually look up the recent history of Venezuela accurately and stop getting your information from biased anti-American media outlets.. There are so many more reasons for it than simply "muh sanctions" - the most stringent of which only even appeared in the last decade
Being an Iraqi citizen and watching this is making me feel extremely depressed. We are neither saving the money for future investment like Norway or wasting it on fancy skyscrapers and cities like the UAE or Saudi Arabia. It doesn't even go into our army, since our army is really bad and lacking in equipment. I simply have no idea where our money is going.
UAE is doing a great job. They are rather investing in tourism. There is a reason why Emirati government is investing in fancy buildings and unique parks so that they can generate income from tourism.
@@meanmanturbo This makes me both proud and sad. Proud because he was born in the same city as me and sad because iraq couldn't provide him with the necessary environment to practice his skills within his own country (this is the case with a lot of skilled iraqis; they despair at the conditions within the country and the limitations due to political corruption and leave to other countries).
@@thewannabegod69 Ehm, no. The amount used by UAE in investing in fancy buildings and unique parks is not generating enough income from tourism to justify the investment. I don't know where you got this idea, but it's bs. UAE is a Dutch disease waiting to happen. The world is shiftng away from fossile fuels, and even if they don't then UAE will still run out one day. They are saving up quite a lot, but, considering the unequal distribution in UAE; once the easy cash is gone, the powerful and corrupt will cling to the leftovers and society will collapse.
The reason cars are so expensive in Norway are not the production cost an sales profit. It is because we have special taxes to protect the inviorment. That is also why Tesla’s are kinda cheap. (They don’t have to pay a gas car fee)
As a norwegian I love that this video is getting so many views. *But he just had to not mention how 90% of our electricity is generated from waterfalls, rivers, dams and such...*
''Norway was a member of NATO and so it did not get the ''freedom'' treatment that other countries did when they tried out this nationalising business''
Hi - it was not an established oil business that was nationalized. The Norwegian Government took charge and made the common rules from the very beginning. A lot of US + multinational oil and services companies have participated all the way developing a real competitive deep sea exploration and oil&gas production. Sp this is a pretty nice example of national and international development working closely for decades to create to wealth. Enjoy :-) www.nbim.no/
SomE Social democrats where already in parlament back when Norway was a part of the Swedish-Norwegian union. This means that Social democracy in Norway and Sweden predates Nato with more than 50 years. Also, Sweden and Finland have never been members of NATO and have not gotten a "freedom treatment" either. This treatment that you are referring to happened to socialistic countries, not sosial democratic countries.
@@Felixxxxxxxxx Iran was not a socialistic country when they tried nationalizing oil resources, and subsequently got the freedom treatment. Sweden and Finland never discovered national resources on the level that Norway did, so the nationalization of such things has never been an issue in these countries. Sweden and Finland has still always been a very close ally of several Nato members and they're members of NORDEFCO, so the fact that they are not NATO members doesn't really matter much. Being socialistic or social democratic is anyway beside the point. In the post-war period of discovering oil and gas, a lot of countries tried controlling these resources, as did Norway. This went against the economic interests of the United States, and so the US intervened in several countries in accordance with the economic interests of their international conglomerates. Lucky for Norway, it was in Europe, and a part of Nato, which means it was protected against intervention to a certain degree.
in most countries - what you want is cheap (like eating out, and Things in general), and what you need is expensive (like education and medical help). in norway its the opposite! :)
Bullshit. In America, children from age 4-17 get free education. And after that, you can go to a Community College and get a degree for very little money. The problem is many American students prefer to pay a lot of money just so they can get the prestige of going to a recognized university. If you take the fact that in America, food is really cheap, and fuel is really cheap, and taxes are really low, you are better off living in the U.S. If you find a full time job here, most companies will offer health insurance. And the medical system in the USA is the best in the world. Sure, we have poor people in America. But you would have poor people in Norway if you Norway had to import 40 million illegal aliens from poor countries just like we have to do. Also we have a lot more black people in America. And blacks tend to always be poor no matter where they live. But don't worry. Muslim refugees are now flooding Europe. In a few years, Norway will look more like a 3rd world country.
@@coffeejack7458 what’s the troll lol, if your goal in life is just to feel safe and comfortable at home you can do that in most of the developed world
@@therealbuba He never said "My goal in life" and we both know he was referring to countries where safety and comfort is not the case. Now do your homework and help your mother with the waffle tray.
I may be wrong, but wasn't it stated a few years back that Venezuela was a very happy country? If so, would that be the effect of riding the high, and now the fall comes?
BeGood 2Me funnily enough Venezuela’s economy is 70% in the private sector and China is the opposite with 60-70% of the economy in the state sector yet they’re seen as a perfect example of capitalism.
Belgium is the two kids who go out trick or treating, one going from door to door and collecting as many sweets as possible, the other getting tired halfway trough and going home instead, then when the first one comes home and the other one sees that the first has way more candy, he throws a tantrum after which their mother orders the first kid to give half his candy to the second one
@@thatrandomguyontheinternet2477 I actually never was, though the way things are going I am considdering voting for them next time, it does not take a genius to see Belgium is rife with corruption and is rolling about as well as a cube covered in tar, in reference to "WWWWWWWWWWWW" if all the isues can get solved without seperatism, fine, but otherwise
@@reudensplasher1659 That's a racist dog whistle. Some people believe that the reason Scandinavian countries are prosocial is because they're overwhelmingly mono-national and that's supposedly proof that social nets wouldn't work in multicultural societies. This view is particularly popular among Americans because it's perpetuated by the media there, both Republican & Democrat-affiliated.
Yeah...an economy based of exporting petrol while considering itself "green and environmental focussed" and killing even more whales per year than Japan . Yeah. Pretty hipocritical
I'm from Denmark. and if I had to pick another country I would lives in. I would go to Norway, our standard of living the economy the way people act and think are in almost perfect synergy. I'd say Norway and Denmark are 90% the same. It's kinda like having a twin. also if all the Nordic countries were to Merge together, Guess whos the new Superpower. It's not the Us. or Russia!
@@wardope True, if yall banded together you could become a badass viking union. But there wouldn't really be a point in doing that, after all, I dont think there is much war on the north right now.
@@wardope well the thing is that we Norwegians kinda hate sweden for abusing us thru history. There is actually a hole genre of jokes called "svenskevitser" maling fun of sweds.
@@wardope if all those countries would suddunly marge you would have chaos, hard to become a superpower when theres no balance. also what exacly tells you that the nordic powers would surpass the current superpowers exactly even if merging would not result in chaos? in addition to that its hard to belive that the current powers would just sit with their hands crossed when some nordic alliance is growing in power and threatens their positions
@@jonathanalvarez3875 Yeah no actually in fact you can indeed have immigration and a generous welfare state. Try looking at, oh l don't know, say Norway for instance.
I'm from Norway, and I understand that there is so much bullshit going on in Norway as well, but I'm grateful that I'm not decapitated for pointing it out.
I lived in Norway for a year attending Lundheim folkehogskole (basically a gap year school), and it was one of the best experiences of my life. I wish I could have stayed longer without being an entire ocean away from the rest of my family. There is a certain upbeat atmosphere there that I love, even when it's cold and dreary outside, and the people are just generally nicer, even though my Norwegian is garbage.
I went to the exact same place as you did actually, and yeah it's a pretty nice place. If you did so more recently than me, did they still have those fishballs in white sauce? Pretty sure they were the least popular dish they served and whenever that was on the menu, everyone just cooked their own stuff, or walked on down to Moi for some food. But hey, it at least gave us some exercise.
@Darca1n and @Poppyseed_423, dont you guys trash my fiskeboller i hvit saus med raspa gulerøtter, karri og kokte poteter. It is delicious stuff, and I make sure to cook it at least once a month.
He should mention that electric cars have no taxes and are much cheaper in Norway than in other countries. The importance of unions isn't mentioned. Regarding the cost at restaurants: Even the waitresses have a decent payment. *And this is very important:* Judges aren't appointed by politicians! Dark money in politics is illegal! Voter suppression laws and Gerrymandering doesn't exist and are illegal. Every citizen of the age of 18, including prisoners, is allowed to vote.
Although even those have some problems. Electric cars are not the future and I hate people talking about them as they still require fossil fuels and there are tons of human rights violations that go into extracting the raw materials to make them. Also personally I don’t think *everyone* should vote as there are some lunatics out there who have proven that they should not be allowed to vote. But other than that Norway is a great place to live and if I could I’d gladly emigrate there
I visited Norway last year and was surprised to see the number of Tesla's and other electric cars. The idea they are all being filled up with hydro electricity makes me really happy! What a country!
@Christian Lopez yes, a few bold politicians created the system, but make no mistake, every person in Norway could "cash out" 200 000 dollars in a quick fix. There has always been cheap politicians arguing that they would spend more money if elected. Every time we vote, we choose to to protect this model, it was never a one time choice. Making this choice over and over again, having high participation in the workforce by women, and strong cooperation between employers and unions keep us safe. Combined with the scandinavian way of life where trust and altruism is highly valued, its a recipe for collective prosperity. There is a reason why Norwegians had relatively good standards of living even as a poor country, the poorest segment of the population still had far more than in other countries. I think this is something we should all feel a little bit proud of.
@@Tylerrocks Ok listen here simpleton. He says Norway is the guy who INVESTED in bitcoin 10 years ago, clearly indicating how smart and rich we got from that. I said Norway is the guy who INVENTED bitcoin, not stealing his joke, just clearly exaggerating to get a few extra laughs.
Norway gave me Black Metal and made me happiest man alive. Thank you, Norway! Also, I live in Norway and Croatia, two of the most beautiful and safest countries in the world. I'm very lucky!
Norweigan kids i can see that by ur names. Hahah pathetic. LETS GO DENMARK LETS GO!! The prettiest country with the prettiest ppl ^^ And Best Counter strike team
@@dianastavreva8943 The general public in Norway doesn't really care about Barnevernet, and the majority of those who do care think that there's something seriously wrong with some of their procedures. Last week I read about teenagers who'd been sent out to cabins in the woods to be isolated from society for months for "their own good" in VG, the biggest newspaper in Norway. In the aftermath, several state officials came out to either denounce or apologise for the practice. Barnevernet seems to have run rampant for decades with an extremely left-leaning practice that neglects the importance of parents thoroughly. It's all about what often incompetent state workers see fit for kids from damaged homes.
Fun Fact: When the Nintendo Switch was released the value of the Norwegian Oil Fund increased. The reason for this is because the Oil Fund has stocks in Nintendo.
they have invested in almost every single huge corporation on earth, including disney, apple, samsung etc. They own a total of around 1.4 percent of the world's stocks
@@gullfeber We tend to steer clear of corporations that maintain or produce ICBM's and/or nuclear weapons. We also avoid corporations like Walmart due to labor/human rights
Jesus, if you think Norway is anything you described, get help. Corrupt free, explain the billions they loose each year that just disappears into the thin fucking air. Norway has mastered the art of proper propaganda, to hide all its flaws.
Sincerely, I think it comes down to low corruption levels. Most other countries in the same situation would have been robbed into destitution by their own politicians, unions and businessmen.
Would have? We already have been robbed bare in North America. Now our crooked leaders are locking in their gains and getting ready to bankrupt the lower classes.
@@skjalgstangnes4233 if they work the way they're intended. Nazi germany also had unions, that had been politically equalized. You cannot just say "worker unions are good , do this and that" - any organisation, structure, or institution exists by its lable and common sense, it's not a physical entity with a stable constitution. If people change, the common sense of these organisations etc. changes with them. So the people are the reason, why these things are working, not their mere existence.
I must say, I am truly amazed by this video. I am currently studying social economics, in Norway, and I was expecting you as a foreigner to have it all wrong, but you truly nailed it, and to a high level of detail! Great work!
Socialism means the government owning all commercial means of production. That is not the same as having a state run army, police service or ambulance and healthcare which are considered non commercial entities. Every developed country has a pension system and pensions are not a socialist idea they came from workers building societies in the 19th century
@@Chris-pq3wp Is the state owning oil production, on behalf of the public, not exactly what you're describing? Certainly state education, healthcare and welfare were all socialist ideas, and I'm fairly certain that pensions were about long before the 19th century. On that basis, I think socialism has given us some of the most important parts of modern society. I don't know many socialists who want governmental control over all resources, but socialist policy in the areas where it's been proven more effective, such as trains, healthcare, etc. and more of a planned economy, where the government can create employment in areas for national development - like Roosevelt's CCC. I think Americans have just been brainwashed to think that socialism means some sort of Stalinist dictatorship, which wasn't what even Karl Marx was agitating for. I'm more interested in Kier Hardie, Robert Owen, and the other incredible socialists who helped bring their workers out of poverty and liberate women at a time when the poor were so badly abused they would cut their lifespans in two working - like my ancestors in coal pits. *EDIT - pensions go back to 13 BC, but it looks like the first modern universal pensions were in Germany in 1883 by Otto von Bismarck, under his 'state socialism program. in heavily Capitalist societies, we're encouraged to ignore all the legacy of socialism...*
@@Chris-pq3wp no sir. That's Communism. Communism is where the government own all means of production. Socialism is where the workers own the means of production
What are you getting at? Socialism is the idea that the government should intervene in a way of the free market that is initially free and can only be unfree by governments or large firms. Socialism is about a government by use of power or threat of power getting ressources from the people so it can implement its policies. In a complete capitalist point of view those extracted ressources should only be enough to have a law and order system that works and a military that can protect from foreign powers. The socialist point of view is fairly modern as it says the government shall take over the roles of what the church once did. Which is providing for the poor and offering medical help. Socialism is about still letting work be done by individuals but a government getting ressources from that and then using it to complete socialist reforms. In these means the scandinavian countries is welfare states= social democracies. Which means democracies where government by legitimacy of its people take the neccesary fruits of the peoples labor and uses it to implement its societal approved policies such as healthcare. Communism is the result of when a government or a people sees the labor not the right of the individuals but as a right of the entire people and hence it becomes controlled by the people and the people are controlled by their elected government. In communism you don't own anything and you don't have any rights. That is because the people comes before you as an individual. While in socialism you do own things and have rights however the government will be forcing you to pay for these rights and things. For an example you have to pay money every year to government for owning land. Because when you own land as an individual you don't actually own it you just have permission by government to use that land, and have to pay annual fees to keep that permission.
the man you could call the "mastermind" of this model was actually from Iraq. we can thank Farouk Al-Kasim for much of the way the model was built, he was hired as a consultent by the gouverment.
@@superbatmanwayne read a little about Farouk Al-Kasim my friend, he was a big influence on the government when developing the model for Norway's petroleum industry.
@@Chreeq Exactly. By law you cannot starve in Norway, as long as you can be bothered to show up at a Welfare & Work office if you are desperate. The minimum living standard here is: a roof over you head, electricity paid, and about $1000 a month for everything else. Health care included, and tuition free higher education if you want it (of course there are extra allowances if you have children or handicaps)
It also gives a whole bunch of people an incentive to not work. There should be a certain limit to the money received in terms of months until ones finds a proper mode of employment.
@@siddhantbhat6048 You get rent money and just about enough to make it through the month, not enough for having car insurance or anything like that. If living like that is incentive to not work by all means just live like that. But that system is priceless for the people who actually ends up needing it.
Nah, it's great living next door to those filthy rich fishermen - They all go shopping for stuff on our side of the mountain when they need food, cars and infrastructure equipment...
It has been in my recommendeds for weeks. I kept away from it for a long time, but in the end, My norwegian brain is like "MUST WATCH FOREIGN VIDEO ABOUT NORWAY!!!"
I'm Dutch and we're doing pretty well, but I always wished we would look at the Norwegians more. I really like their policies, and for what it's worth every Norwegian I've ever met was really friendly and eloquent.
I worked a month on and a month off in Norway for 4 years. The cost of living is very high as was pointed out in the video with the car prices but the lads i worked with explained it to me that they get tax relief (tax cut) when they buy a house, get married, have children or buy a car. So they actually benefit financially by buying and doing these things. If anyone is lucky enough to go to Norway as it is a beautiful country with lovely people, the first thing that you will notice is you rarely see old cars and how affluent it is there.
Hmm.. Anyone telling you how much debt they had? Loads have debt they'll never get paid down... Housing: Buying a 30 square meter flat in Oslo is 2-3 MILLION NOK ..Equal aprox to 250 000-350 000 USD ... So young people already in HUGE debt from studying, are basically debtslaves and our freedom is one of 'Oh ok...all others accept it thus I will too' .. Education is strictly aimed towards getting revenue ..or does anyone really think we'd have criminaly high sucide rates and a HUGE alcohol and drug abuse if we had social education and aimed for true freedom and self-awareness ?? Few here would move their arses even if a government decides to implement policies that see 10-20 % or more of the population plummit into radical poverty .. We're a bunch of HIGH on our own propaganda .. Oh and btw: No need for the democracy treatment as WE do whatever the US asks us to do.. Told to jump we eagerly ask .. HOW HIGH ALMIGHTY US ?? That high, ok we'll add 100 meters to that ..
@@Teleboogie70 That HUGE debt that you get from studying is nothing compared to the US. For a bachelor's degree, you end up with a debt of about $18 000 which is nothing compared to the US, where you can pay that each semester. The debt is also one of the cheapest debt you can have. Also, the cost of a property increases because people are willing to spend that much money. Go outside Oslo and the prices drop. Also, the income in Norway is higher than in most other countries and in Oslo, the income is higher than the rest of the country. The suicide rate in Norway is a problem, but Norway is no way worse than most others, We are number 74 in suicide by capita worse than Denmark(89) but better than Finland(32), Sweden(51), and Island(40). In drug and alcohol abuse we are also about average.
Fun fact; Before Norway found oil, they wanted to make a deal with Sweden-- they said; ''If we find oil, we give you 50% of the profit from the oil, in exchange for owning and getting 50% profit of the -Saab- (IT WAS VOLVO, K GUYS????) automobile company.'' Sweden DECLINED, today Norway is rich, and Sweden's Saab company has ceased to exist as of 2011. Sweden, you done goof'ed.
Thats wrong, it wasn,t Saab, it was the Volvo company, and it wasn,t 5o /50 it was 50% of Volvo against about 20% of the Norwegian oil. The seal was practical done, but but in the last minute the stock owners in Volvo got cold feet and turned the thumbs down. Bet they have regret that ever since
The notion that Norway got rich based on its oil production is a lot misleading. It is way too simply understanding of what happened. I'll try to keep it short. It starts much earlier. With the Government understanding that all the natural resources belong to the people as you mention. This is codified in law in the early 20th century with "Hjemfallsloven". Look it up. That allowed Norway to build out its Hydroelectric power plants and grid with foreign investment throughout the 20th century while still keeping ownership long term over it. That allowed us to build out steel industry and ship building industry close to these plants as these were severely energy hungry industries. We subsidized these industries with cheap energy and started out with low wages. The reason we had these industries to begin with was to stock our large merchant marine. We also quite early in the 20th century started large education programs that produced skilled workers. To keep our workers healthy. We gave them healthcare and pension. We created strong labor laws and unions to prevent them from being exploited. It meant that these industries were extremely attractive. When we discovered oil in the 60s, that meant we really had all the elements already in place to take advantage of this entire industry and build it "in-house"(there are some exceptions to this, which were the drilling technology that we outright expropriated). We then could build the oil platforms out of steel from our own steel works. We could supply it with our own built ships that were more tailored to handle the rough weather of the North Sea. We could staff them with our own educated workers. With great labor laws that mean they weren't being exploited. We could own it ourselves and lease the blocks out through our laws. And we could export most of the products because we used hydro electric to power our domestic consumption. You can claim this is "luck". But it also is doing the right steps needed to take full advantage of an opportunity when it arises. That is why most Norwegians grin when people claim it is luck and all based on oil. It isn't. It has taken a century and more of work to get to this point. Thinking long term and the good of everyone instead of just me. There are lessons to be learned here for any nation.
It's basically down to quality institutions like a fair labor market, free education and health care. See research and book by MIT and Harvard WHY NATIONS FAILcom
Thank you! To add to this, it's not like we were poor in the early 1900s like the video might give an impression of, but we were a low-cost country then. We had a much higher growth in GDP from 1913 to 1950 compared to Western Europe (2.1% vs 0.8%) much due to this and the reasons you mention. We did fall behind from 1950 to 1973 when Western Europe had an unprecedented growth period, we had some failed strategies, shipping took a hit (for us) and we had our growth between the wars rather then after WWII when Western Europe did. The oil certainly helped but we wouldn't be piss poor or have less social welfare without it.
Very good post. I would also like to mention the system we developed(the norwegian model or the nordic model) in the 30s where represents of labour, employers and the state in a set of rules negotiated prices on raw materials, wages etc for the years following. this provided predictability in the economy witch was crucial for the economic growth
You forgot to add the part where you got lucky in how the lines were drawn in splitting the north sea between Denmark and Norway. Denmark would've owned the Ekofisk field if the North Sea had not been drawn up by the equidistance principle. But that doesn't change the fact that our politicians were so stupid in how they handled the oil we do have. Privatising it in the worst thinkable ways.
So my interest in norway has nothing to do with the social programs and everything to do with its "Hedge fund", its genius in my opinion. I mean any government that somewhat pays for itself has a huge advantage over governments that cannot. If you think about it, the hedge fund idea, taken to the extreme, could allow a government to pay for all the "social net" policies that you want, without even taking taxpayer dollars. Of course thats an extreme and we dont know if thats even possible, but to me its amazing. See the reason most libertarians hate democratic social policies is because if the government fails it would prove catastrophic for its citizens. And I see their point, because technically speaking government run healthcare *for example* is a gaint non-profit business- and if its funded purely on taxpayer dollars, that means that every single mismanagment and issue is a loss of standard of living, particularly if it outlawed privatized healthcare. If it failed outright, it could collapse the economy. And thus is the argument for libertarians; if a business fails, it only hurts those in the direct lives of thouse funding it and maybe some of their customers have to drive further or pay more, if the government fails then its citizens have to pay back immense ammounts of debt for something that didnt even work. The government isn't allowed to fail while private entreprises can. But this whole hedge fund with the government only being able to use the profits, thats an insane idea, because that means that you could try for universal healthcare without using half of the risk that would normally be entailed. Not to mention, you could leave privatized healthcare and simply provide cheap healthcare for the lower income classes, so long as it stayed within the budget of the profits from the fund. Thats amazing, because it creates a safety net with zero risk of hurting the economy. And to libertarians, not hurting the economy is the key, because a hurt economy, or a single failed social program, makes it even harder for the lower class, and can actually cause poverty. You could have hedge funds to negate all of this, if your government waited long enough.
Update: Norway's sovereign wealth fund is now (2nd of October 2021) worth $1,337 trillion a 33% growth since June 2019. I'm afraid it hasn't got any plans of stopping soon xD
5:14 - Always funny to think that the UK and Norway found oil in the North Sea at roughly the same time. Norway chose to, basically, nationalise the oil and use it for the good of the people and their future. The UK had an unpopular Conservative government that chose to privatise their oil, and attempt to (successfully, at the time) buy votes with tax cuts to keep themselves in power. The UK thought that oil wealth would last forever, so spent their oil wealth like it was going out of fashion. Norway realised it wouldn't last forever, so setup for the people for the future. I much prefer the Norwegian model.....
Because 90% of the UK's oil was in Scottish waters, and there was already starting to be a movement within Scotland to break up the UK union since the end of World War 2. (England + Scotland voted to join together in 1707, since they had the same monarch through royal marriages of the old Scottish and English royal families). Scotland even had narrow vote to stay a member country of the UK in the 1970s. The UK government, dominated by the English population, needed to use that oil quickly. en.wikipedia.org/wiki/McCrone_report
Norway is an exception. Throughout recent history, nationalization has almost always meant lower productivity, higher corruption, lower accountability and lower citizen liberty and quality of life. So Norway nationalized and did well. Great. Kudos to them. Now ask: Russia, Romania, Bulgaria, Estonia, Poland, Latvia, Lithuania, Belarus, Georgia, Vietnam, Cambodia, Cuba, Venezuela, and a ton of other countries what they think of nationalization.
Why make such a silly comparison? UK is about 13 X the population so would need to have discovered 13 X as much oil and gas to be comparable. Had the UK found 13 X as much oil and gas as it did then I'm sure the UK would have had the excess to save too Also Norway has huge hydropower which produces 99% of its electricity and heating needs. UK has no significant hydropower so most the gas from the north sea was used for electricity generation and heating UK homes that is to say domestic needs. there was no mass exports of gas and in fact the UK imports natural gas today... again the significant difference being the more than 13x difference in population size Norway was the lucky country in four significant ways. Significant hydropower. Significant oil. Significant gas. Relatively small population If the UK was 5 million and Norway was 66 million then the story would be about how great and wise the UK was for saving so much.
@@Bavanai BP (British petroleum) was also majority state owned The primary difference between the UK and Norway was population size. The UK North sea oil and gas isn't even enough for UK consumption of oil and gas so the UK is a net importer of oil and gas. There was and is no vast UK North sea oil there is just enough to meet a bit more than half our need while on Norway their oil and gas is more than 10 X their own needs so they are able to export a lot and save a lot of that.
I wish people would stop hating on the US. They are now doing exactly the same what England, France, Netherlands and Spain did some 200-300 years ago and what both USA the USSR did until the fall of the Iron curtain. In 50-100 year time, or even less, someone will take their place and continue.
Kwaesi Laguer There be oil in those parts thar 'cross the pond. We should look into..freedom solutions. Aw fuck, it's natOil. Let’s just force some bad fighting birds on them, then. Squaaaak!
Economics Explained As a fellow Australian, what a shame our govt didn’t set up a sovereign fund for our resources boom. But no, sadly the “profit before people” paradigm is what we are lumbered with. Norway got it right.
Oil is behind 15% of Norways wealth, what makes ous truely rich is Salmon and Hydropower plant. As we are the biggest producers. Also, we use oil money to invest in compaines around the world, currently owning 1.4% of all stocks in the world. We own massive parts of Microsoft, Apple, Nestle, etc. - Fish - Hydropower Plant - Oil - Stocks investment
@@AdityaDeo-cg6eu You wont run out of oil. The state is going to stop oil in 2050 lol. 30 yrs from now. by then, everyone have electric car and therefor u can continue pump oil, as the world has already become stable green. Oil is used for so much more then just energy and transport.
"If you do find yourself in a country that has won the oil lottery, Norway should really be the framework that you are working on" *Venezuela intensifies*
Even in the 1960s, before the oil discovery, Norway had some very advanced engineering industries like designing and manufacturing of electric locomotives, Diesel engines which doesn't exist in countries like Bangladesh, Nigeria and Greece to this day. Even in the 1960s, Norway's economy was more advanced than Spain.
Wal Mart is terrible. I mean they literally have given out paperwork for welfare/food stamps to new employees. Basically they expect the government to fund them because they'd rather pay their people terrible wages, for a really shitty job.
Oil profits in hands of the government recipes: Norway: Sovereign funds Arabs: Infraestructure Latin america: Welfare programs Guess in what region people is always protesting blaming capitalism for the lack of good public services and low quality of life.
@@hardgaymania6492 yeah we just gotta incorporate the best parts of both systems unfortunately, American politicians will freak out over anything remotely left
@CalvinV7 So education in Texas is free? If yes - how about health care? edit; We have a saying in Norway and that is; Its totally texas. It means total chaos. A cowboy riding in the Saloon blasting his guns while shouting hiyaaa... Total chaos :)
I need to correct one false statement here: Equinor (the company you call Statoil) is a private company where the government is a shareholder. There are other international companies drilling oil in Norway with the same rules as Equinor.. And it is based on Licenses. Where Norwegian Government takes 78% of income but also 78% of expenses.
Equinor. I refuse to call it that. They can't just re-brand and pretend they're not an oil company anymore just because oil is currently pretty unpopular. Do they seriously think we're going to see them as an "energy" company now? This is what happens when businesses go to the marketing division and ask "how can we appear more green?". Nope, not gonna fly, I'm still calling them Statoil. By the way, Statoil doesn't just operate in Norway anymore, they're all over the place now.
not just a shareholder but holds 67% of the company as of june 2019, expect it to be higher after the share buyback (kek to you loser that didnt buy at 151).
Equinor same same but different. Its a system held in place by,,,, account / taxes high /salary to the people. Just keep people on salary and the wheels turn
As a norwegian one thing i've noticed about this country, people who controll it and people in general are very logical, and progressive for the greater good.
Norway has one other benefit aside from finances, its ridiculously stupendously beautiful. I dont believe there is anywhere else on earth that is as beautiful.
2:25 In 1963, way before petroleum discoveries on the Norwegian Continental Shelf, Norway had the 11th highest GDP per capita (1775 USD) in the world. In other words, Norway had a higher GDP per capita than UK and France, and a lower GDP per capita than the US and Sweden. Source: The World Bank In the 60s the Norwegian economy was NOT based on fishing. In 1969 (oil resources was discovered in December 1969) Norwegian industry generated 18 times as much GDP compared to fishing. Norway was in other words an industrialized country. Source: The Norwegian statistics bureau Anyways, great video! :)
OK, Despite this, up until 1962 the Argentine per capita GDP was higher than that of Austria, Italy, Japan and of its former colonial master, Spain.[7] GDP per capita graph 1960-2015 by Google Public Data Explorer, sources from World Bank
@@jeffschlarb4965 Wait, your source that "up until 1962..." is from statistics starting at 1960? So Argentina was doing well for a whopping two whole years?
I wish my country, Nigeria will learn a lesson here. Our politicians are so corrupt that even the oil revenue put into government treasuries is stolen by government officials. That leads to the underdevelopment as you rightly mentioned in your video.
From what I hear, Australia isn't that far off. Sure, the real estate prices have gone through the roof and the climate is getting worse but it still is a desirable place for many.
@@jackmccarthy4047 Why they fcked up? . Norway has only 5mil pop , no matter how they waste the money they still would end up rich .Also look up how many somalians they have ridiculous .
Dude I am young and I live in Greece. Trust me living here sucks and it's getting worse and worse. I wish I could move permanently to Norway or any other north European country.
@@johnwick3846 Love and respect to you dude, your country is so beautiful and what happened is fucked up. I think Yanis Varoufakis was a visionary, and Europe will regret not helping Greece. You deserve all the best things, and I hope you can rebuild your economy x
@@SamHarrisonMusic Thank you for the kind words. Regarding what you have said, Yanis is an excellent as a professor of finance but he is not suitable for being a politician. His policies are somehow utopic and they do not seem to be down on earth. Unfortunately our former politicians only thought short term and now my generation is fucked up because they went on with all the wrong choices and now our debt is 175% of our gdp. But the EU as you said did not help Greece when it was needed. Instead of helping the economy to grow by bringing investors they imposed us a huge corporate tax(30%), they increased the sales tax and of course they cut all the wages by 40%. Guess what: Our debt went from 127% to 180% of gdp, our gdp per capita went from 32,000$ to 18,000$, all the companies went abroad, our unemployment increased to 25% and the living cost remained the same. Even those you endorsed the 1st memorandum admitted that it was not a good one but only after the damage was done.
SirSnorunt Equinor is using offshore drilling technologies to pioneer floating offshore wind power which will be a massive industry. The name was changed to take the oil in Statoil out of the state.
actually what Equinor plans is to take natural gas (ch4) as they currently do, split into H2 and Co2, sell H2 as green energy nd return all the Co2 back under the see using something calles CCS. nothing good, nothing so green, and name change took place for PR reasons, as oil is not a positive word today. only small portion of equinor investments are actually green and it has much to do with keeping a nice public image. personally I find it pathetic from a company like equinor to invest so little in renewable green energy
Thomas , I live in Norway 22 years now. The best place I have ever been. The point is not to be rich but to be happy. If someone wants to be rich there is a price you must pay . Norwegian are the most positive sincere and honest people . Many people under your comment don’t realize that being rich is having responsibility. They think wrong and primitive. They think that big busses will find them . No , it doesn’t work like that . To have money and keep it is knowledge , discipline and sacrifice of your life . It’s nothing about sick narcissistic dreams. Best regards Daniel
Finding an oil well without the corruption package of corrupt officials using the oil money for themselves while failing to diversify the economy away from oil.
I am Indian..living in Norway since 1975...and working whole mylife here in OIl Industry.! Yes..I agree...that the most important factor is safety for every human being. Norway provids all that. Education..medical..is all free. By losing job..a person is not thrown on streets. Systems are in place to help every body..with in limits. I only remember all these years paying taxes..and taxes. But guess what now..when I am 72..and getting creepy(LOL)..I cant even imagine living any where else..not even to mention living back in India. Simple reason..I live safe..peaceful..and no worries getting sick..and thrown away on street. I love Norway and respect and thanks Norwegians..proving me all I have. God bless Norway.
Im really mad that my great grand parents migrated to Washington back in the 1880s Edit: Some if you guys are getting really serious about this 😂 I’m not angry that I’m in America so some of you guys don’t need to mention how grateful I should be cause I am! Have a good day 🙏
If Norway ever goes fully communist, we demand that you guys come back and straighten us up. Its all part of hedging the future, having a large diaspora will work wonders if the motherland goes a stray.
Norway was a terrible place to live for ordinary people at the time. Between 1830 and 1920 nearly a million people emigrated to the US, a large part of the population (today: still only 5 million).
John Williams the nordics are the best* sweden has the best quality military meanwhile norway has the cash money and denmark has the energy, iceland has the... heat? And findland the cold? I guess finland has wood
Wish my country (the netherlands) would have done the same with all of the gas profits and invested it. Instead every government has spend it all and now we only have 20% gas left. We could have had a fund of around 500 billion aswell.
You don't need one. Property is suprisingly reasonable. People with 'middle class' incomes can easily afford a 2nd home there. Try eiendomsmegler 1, it's a well known property website.
@@terminusest9083 In that case, your middle class is very different from the middle class i know. The only people i know of that have two homes, are CEO's and similar. The middle class in Bærum is not the same as the middle class in the rest of Norway.
But they are destroying the planet pumping out all that Oil! Heck, if you go back to drilling off CA coast, and Open ANWAR in Alaska, USA could have all those FREE social programs ALSO TALK to our GREEN party folks...
Norwegians way of life and economic system is really just the best. I got the opportunity to come across Anmol Singh, an Indian broker and my funds manager. I joined the trading group and it's has been really amazing. Multiple setups everyday, easy to learn videos and excellent spreadsheet, that is so useful for finding your own pattern. And most importantly he wants you to make your own self.
It's been over a decade since joining Global Stocks HedgeFunds under the guidance of Anmol Singh (Sir) and it has helped me achieve financial and personal freedom that a job could never provide me. At one point my wife and I were able to quit our jobs, buy our dream home and travel the world with our daughter as a result of the business Anmol Singh and his team of expert traders helped me build. Here's to another decade of success for all of us!
The failure of OPEC+ deal to cut the production of oil on March 9th brought down the price of Brent, the biggest one-day drop in 29 years. It’s still unclear for how long the period of low oil prices will last, Sir Anmol Singh will let you know more and give advices Happy to have come across his email address from a colleague (anmoltradingstocks@gmail.com)
uncertainty is the only thing that’s certain about the markets, one just need to have contingencies for such scenerios. Having a diversified portfolio trading with Anmol Singh was just a great advice I got for me.
Hello everyone I’m from India. Anmol is my trader and I can see positive feedbacks about him here. He truly deserves this acknowledgement and more, honestly he manages my funds and I earn weekly
Very informative episode. well as for me after accumulating surplus funds from high growth stocks, investing and trading with Anmol Singh. I tend to venture into real estate, as all my profits has been positive. And real estate is yet another serious income.
I dislike this video because it is recklessly misleading. It ignores at least three enormous factors, which greatly enhance the financial well-being of Norway. 1) immigration: Norway does not allow it 2) no military budget- the United States pays to defend the Norwegian people, and 3) the homogeneous population. Humans are above all: human. When individuals share a common cultural, and genetic background these individuals are likely to be more "kindly" towards one another. It is my belief that the Norwegian people's financial success can be primarily attributed to two characteristic's: selfishness and racism!
@@Greg-wm4on 1) 11% of Norways population are immigrants, and we are part of the Schengen agreement. 2) Norway spends 1,62% of our GDP on our military (For instance 52 F35 fighter jets). 3) Norway has always had the cultural minority Sami in the northern part, who have had their own senate for the last 50 years. FYI.
I really like the phrase "a boost to quality of life" at 5:27 and then showing the street called 'Strøget' in central Copenhagen, Denmark. Couldn't be more accurate! :-)
I lived in one of the last five remaining communist states for eight years. There's absolutely no welfare system. If you don't work, you starve, unless you have family support. No universal healthcare either.
Social welfare only work until the guy who have all the money runs out of money. And if they're being taxed high continously, they'll move away. Ask californian how taxation works out for them.
@@jackbayu555 that’s not how it works. Social welfare is like more like you are a group of fishermen on a boat. Every morning everyone pitches in to make a net on the side of the boat to prevent anyone from falling off and drowning. Then they go about the rest of their day. Social welfare isn’t upheld by the rich. It’s upheld by everyone with the idea being that it’s their for everyone and any one as a safety net. Can’t work cause you have COVID ? Lost your job because your company moved off shore ? This is then where welfare kicks in and keeps you afloat till you can contribute again. The system is incredibly stable because it make the same bet insurance companies do. Most people won’t need it. And most of those that do will eventually work their way free of needing it and support others as well. Also sure the taxes on the rich are high in nations like Norway and Germany. But for that you get to live in a safe,beautiful nation, with quality care, high standards of living, good infrastructure etc. you could live like a king if you moved today to Haiti but you don’t. Why ? Because it’s way to dangerous and doesn’t provide the amenities you want. Yes nations with welfare Have to levy higher taxes on their people but those people are fine with it because In return you get so much more. No German has to worry about being able to pay medical bills,college debt, or retirement. When they have a newborn they can actually stay home with them the first few months and recover and come back to their jobs and slip right back in. They have better and longer garauteed vacations. And all every German pays for the welfare is about 25 percent of their paycheck. Now go ahead and tell me you don’t want that. I know if I had the choice I would choose Norway or Germany any day over the USA
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Thank you for making these videos, they're great!
I am a big fan of your channel and I've learnt alot. Thank You
Dam Commie.
it's so boring to live in norway
and it's so hot here it' 19 dagrees
happy to be here in norway wanted also to show to others beauty of norway
I'm Norwegian, but I don't feel rich. I feel free and safe, and that's priceless.
I feel privileged to be an American. I feel safe because I live in a small town and....I'm armed, too. lol
What's it like living in Norway ?
mostly cause of your country's oil reserves
@@deebee8825 The cost of living is very high as was pointed out in the video with the car prices but we get tax relief (tax cut) when we buy a house, get married, have children or buy a car. So we actually benefit financially by buying and doing these things. And also, it's so much freedom and different cultures
And that's the reason I will never move to Norway!
I have one life I won't spend it by being average!
- Be a western country
- Find oil
- Don't spend it all at once
Got it
- lower taxes for businesses
- hide money for rich people
1 less step
@@nikolaimyklestad-karam5032 facepalm
@@nikolaimyklestad-karam5032 facepalm
@@nikolaimyklestad-karam5032 big facepalm
@@nikolaimyklestad-karam5032 Bigger facepalm
I believe they were luckier having honest politicians at the time of finding oil than in finding oil itself.
Nope, there are no honest påoliticians.. our Gro Harlem Brundtland, is a main contributer to the agenda 21 plan for the world. and the rest of them are not better.
@@Goldenhawk583 says:
"Nope, there are no honest påoliticians.. our Gro Harlem Brundtland,"
==
You have no idea what's going on outside the country of Norway.
Do you think Trump is honest?
@@allgoo1964 I wrote there are no honest politicians.. what makes you think I believe Trump is honest?
I have a fairly good idea of what is going on outside of norway, as well as inside norway, and the funny thing is.. it is generally the same thing.. fraud, lies, corruption, more lies, and the richer getting richer while more and more ordinary people go poor.
@@Goldenhawk583 hah yes the Norwegian fisheries minister there is totally corrupt, using bad chemicals on the farmed salmon... that she also sells through a business she owns buts tries to hide, plus ensuring that those researchers who found out to get fired, I mean made *redundant*...
But all in all Norge is an amazing country, confident in who they are, and how they handled their resources by keeping the majority of the profit for the future generations puts resource-rich countries like Australia to shame.
@@SPM1X you are so correct about the fish, and all the lies surrounding that.. some consider farmed fish the most toxic food in the world.. I dont eat it.
From the outside, Norway may look good, but the future generation they are saving it for, is the political and wealthy.
The common man in norway, is treated just as much like a neglected working horse as anyone else. It used to be better, but we are catching up .
It is very hard for youth to get work, and it gets worse every year.. it is hard for other too, but mostly youth.
I am on disability, and while i do have a steady income today, it will not last once the financial system breakes completely.
Also, my income, if I wanted to live "like everyone else" is far from enough. Renting a small apartment at normal cost, would take half of what I have after tax. Electricity would take another 10%. After paying insurance.. phone, internet, I would not have enough to eat healthy, much DO anything. So I did something else..
It may sound like a luxury problem, but it is pure slavery..keeping you locked in a small cage, preventing you from doing anything.
Norwegian politicians have bosses, just like all other politicians. They do not work for the people, only for themselves and their bosses.
Ordinary people are live stock... not seen as humans, just an income source to be exploited.
Allowing ourselves to be trapped like this.. believing big mouthed people,, trading our freedom for obediance and fake safety.. is the biggest mistake we ever did. I do not need a government.. I can govern myself, and treat other people well, without having a government look out for me..
I moved from Poland to Norway, and for me, taxes are almost the same, cost of living is not that high, but everything contented to services is very expensive. But in my opinion, the success of Norway to use this what was given to the country, comes from the people. Norwegians are willing to help each other, they are very sosial responsible, and the old generation was used to work. It's also a land of opportunities for the hard working and willing people.
Jeg bare elsker Norge ♥️🇳🇴♥️
Absolutely right. The people are great 👍 , I live in Norway 22 years now. The best place I have ever been. The point is not to be rich but to be happy. If someone wants to be rich there is a price you must pay . Norwegian are the most positive sincere and honest people . Many people under your comment don’t realize that being rich is having responsibility. They think wrong and primitive. They think that big busses will find them . No , it doesn’t work like that . To have money and keep it is knowledge , discipline and sacrifice of your life . It’s nothing about sick narcissistic dreams. Best regards Daniel
That last sentence sounds like what America desperately wants to be but fumbles on that front a lot lol
Speaking as a norwegian, I am happy to have you here and I wish you good fortune in the years to come :D
Og vi nordmenn elsker dere Polski 🤙
@@nick_nordicspaghettieater4 :D
Norway listened to grandma when she said: "don't spend it all in one place."
69 like
Spend what, rain of snow or spend fake news all the time, norway have no money from the beginning, it's all fake news that you hear. After norwegian taxes you ended up with nothing left.
@You're right i agree with you piece of shit you don't know me, I'm richer than and your entire norwegian family. You all are fake and deluding turists to come to your refrigerator freezing shit country.
@You're right i agree with you no they are fake.
Norway was only able to save money because Uncle Tom was protecting his home with billions and Billions from from its people. Ungrateful bunch
You know that half of the views on here are norwegians like myself watching to boost our egos
Stop exposing me
We Norwegians ineed like to have our egos boosted.
@@butyoudidnt4387 Hey Im from Croatia and Norway is my favorite country :) My dream place 😊
@@kendraz7994 NICEEEEEE
@@Dani-it5sy what really? I read somewhere that Norway is one of the happiest countries..🙄🙄
Norway: finding huge oil reserves
Don't get corrupted politicians ✓
Don't get "freedom treatment" 😂✓
Don't get luxury ✓
Don't spend it all in military✓
Don't have to worry for generations✓
Today was a good day
Yup, we were lucky. But have no illusions, there are plenty of politicians arguing a spending frenzy to buy votes. We simply value our model to much for that to to work. Also, its because of NATO that we can feel safe from other countries. For all its problems, the US has played a role in the world that even future generations of Norwegians should be thankful for.
@@peterpeterpeter6315 "its because of NATO that we can feel safe from other countries"
===>Russia isn't interested in Norway, nor does it perceive it as a threat! Sweden/Finland aren't part of NATO and they feel perfectly safe from exterior threats???
@@ABC-ABC1234 thats a good point. It might be that the feeling of safety attributed to NATO comes from other sources.
@@peterpeterpeter6315 Well my point being is, that Norway could be even safer if it wasn't a part of NATO. (If you stay out of USA's imperial wars, less chance of refugees coming to your country)
@@ABC-ABC1234 While Sweden is not an official member of NATO, the country housed NATO equipment and staff during the cold war, i think there was even cases of american spyplanes using military airfields. I think it was a sort of open secret that sweden in reality was a "semi-member" of NATO at the time. As for Finland it is sort of important to remember that the country was in open all out war with the Soviet union duing WW2 and lost, so they were not in a really good position to do anything that could provoke the Soviets, in a way its sort of impressive that they were NOT incorporated in the union, i believe Finland at one point was a grand duchy of Russia.
The point of this being im not really sure one can say that they feel/felt safe from exterior threats as much as it is that they could not really do anything about them.
How to succeed financially:
1: Win the lottery
2: Continue driving 12 year old Honda Civic with dented fender
@meow purr I'm gen z and I drive a dented honda civic lol
@meow purr There are Gen z's that are 25 years old so they've been driving for almost 10 years.
Too bad they are dependent on the stock market. They lost like 1/3 of the fund during the 2008 crisis. It has since recovered but if there was a Great Depression and no bailout then they would be having to tighten their wallets even harder. So yeah, not the smartest of ideas. I would take realistic improvements over paper stock money any day of the week.
@meow purr I am a retired senior but loves to ride my electric kick scooter.
@meow purr I am a gen Z and I have both a car and an electric scooter.
Norway is like a person with brains who won the lottery.
Hello, how're you doing?I’m a licensed account manager , I promote worthy investment plans, in the likes of Forex, our local digital currencies and also mentor the blockchain technology, ever came across the word forex??
not really If Poland could have better location and oil it would be richer than Norway
@@piotrwojdelko1150 How did you reach that conclusion?
loljk233 because he is Polish
@@janithadharmabandu9663 that makes sense
"Norway is like a guy who wins lottery, but keep his day job and invest in stock portfolios".
Kind of like America would be without Democrat's?
@@jeffschlarb4965 You're so blind to the stupid corrupted politics America loves to play that you don't even realize how dumb you are... Your comment shows me how strong people's person bias is, to the point where they become irrational.
Bruh why are Americans the only people I see get so butthurt about politics lol
@@jeffschlarb4965 HA HA HA
@@CombineWatermelon Fair, as a non-American, I don't have much opinion either way, all I know is pretty much based off of memes and stuff, and idk anything about the actual ideals and intentions of either side in this case
Interestingly, Iran tried to do the exact same thing in 1951 but received the American democracy treatment in 1953.
sadly
@@razielthesniper9241 shhhhhhh, its to protect rights
More specifically, it was because of British Petroleum, or Britain's, loss of control on Iran's oil that they turned to US to try to oust Mosaddeq, Iran's leader at the time. Then everything went to shit until you have the current theocracy.
www.britannica.com/place/Iran/Wartime-and-nationalization-of-oil
America just wanted to spread their uncorrupted dollar thats it. Trust me it will happen in Europe soon too.
Some day you are going to see "dollars" drop from the sky in fuckin PARIS.
ThaStrum yeah um no
What I love the most about Norway is the fact that i grew up in a poor household, but education was free so today I’m a lawyer , and not poor. Everyone is given a chance and its up to you how you deal with it. The state will help you so that you can rise above your living conditions and be an asset to the country and fellow man. I love that……
Fellow lawyer here. Not really poor background, but son of a cop and a kindergarten worker, so certainly not from a socioeconomic elite.
Norwegian social mobility possibilities are among the very very best in the world, and way above the US.
Venezuela: find oils => let's party yay
Norway: find oils => let's invest in mutual fund
Knowledge is power. -- Sir Francis Bacon
Venezuela was ostracized from the global market by the U.S. when they nationalized their oil as well. Remember when he said Norway was part of NATO and didn't receive the freedom treatment? He wasn't just talking about imperialism. The same type of sanctions we apply to Venezuela would never fly if we tried to impose them on these well established EU countries.
@@w4e5tjh5 they put sanctions on Venezuela oil in 2019 due to Human rights issues and to pressure Maduro's resignation. Prior restrictions on trade put in under Bush and Obama at different times too.
There were embargoes on OPEC nations which included Venezuela and Saudi Arabia decades prior to that, but there was an entire rest of the world for these nations to sell to and adjust their industry around. They failed because of poor economic practices and communist idiocy
@@Hunterchuck so what you're doing there is acknowledging I am correct while calling me biased because you don't like it
@@Forestgravy90 No, I was throwing a bone. Pointing out that there was a bad idea economically, does not mean that it was the main reason why the nation crumbled. If you look at the Roman Empire, you would see one reason why they fell. But a closer look will reveal that there were many more variables at play that might have even contributed more than the one problem that you identified.
This isn't about "I don't like it". It's about what is true and accurate. Between you and me, the person who doesn't like what's being said would be you. Because you are the one who is banking on the narrative that Venezuela failed because of Communism. I'm just simply pointing out that it doesn't look good for America to continue hurting a country in a crisis. Would you take such issue with me pointing out that a bully constantly kicking the kid on the ground is not a good look for the bully, when the bully is claiming that the kid they are kicking hurt themselves?
I'd expect the answer is no. And therefore I have no idea why you responded in the way you did, if the answer was truly no.
@@Hunterchuck you seriously need to actually look up the recent history of Venezuela accurately and stop getting your information from biased anti-American media outlets.. There are so many more reasons for it than simply "muh sanctions" - the most stringent of which only even appeared in the last decade
Being an Iraqi citizen and watching this is making me feel extremely depressed. We are neither saving the money for future investment like Norway or wasting it on fancy skyscrapers and cities like the UAE or Saudi Arabia. It doesn't even go into our army, since our army is really bad and lacking in equipment. I simply have no idea where our money is going.
where our money is going ? One word => USA
UAE is doing a great job. They are rather investing in tourism. There is a reason why Emirati government is investing in fancy buildings and unique parks so that they can generate income from tourism.
As an Iraqi, look up Farouk Al-Kasim. He was an Iraqi that basically designed Norways oils strategy.
@@meanmanturbo This makes me both proud and sad. Proud because he was born in the same city as me and sad because iraq couldn't provide him with the necessary environment to practice his skills within his own country (this is the case with a lot of skilled iraqis; they despair at the conditions within the country and the limitations due to political corruption and leave to other countries).
@@thewannabegod69 Ehm, no. The amount used by UAE in investing in fancy buildings and unique parks is not generating enough income from tourism to justify the investment. I don't know where you got this idea, but it's bs.
UAE is a Dutch disease waiting to happen. The world is shiftng away from fossile fuels, and even if they don't then UAE will still run out one day. They are saving up quite a lot, but, considering the unequal distribution in UAE; once the easy cash is gone, the powerful and corrupt will cling to the leftovers and society will collapse.
The reason cars are so expensive in Norway are not the production cost an sales profit. It is because we have special taxes to protect the inviorment. That is also why Tesla’s are kinda cheap. (They don’t have to pay a gas car fee)
Explains why Tesla's are everywhere
@@yjk1037 yep and parking spots are exclusive to them. Plus EL car chargers everywhere for the tesla'w
@@kasperknutsen8283 and we can actually afford them
@@stian7479 fakta😂
@@kasperknutsen8283 ja
As a norwegian I love that this video is getting so many views.
*But he just had to not mention how 90% of our electricity is generated from waterfalls, rivers, dams and such...*
ja vannkraft er også mye mer bærekraftig enn vindkraft, fordi det kreves ingen ressurser som påvirker dyrelivet. :D
@@languist Du er ute å kjøre hvis du tror at vannkraft ikke påvirker dyreliv :)
98%
''Norway was a
member of NATO and so it did not get the ''freedom'' treatment that other countries did when they tried out this nationalising business''
This was a great comment. I wish hed expanded a little bit, I think certain people need to know more about what their government does!
@@SamHarrisonMusic Well it's an economics channel, can't expect a long history lesson if the result isn't about economics.
Hi - it was not an established oil business that was nationalized. The Norwegian Government took charge and made the common rules from the very beginning. A lot of US + multinational oil and services companies have participated all the way developing a real competitive deep sea exploration and oil&gas production. Sp this is a pretty nice example of national and international development working closely for decades to create to wealth. Enjoy :-) www.nbim.no/
SomE Social democrats where already in parlament back when Norway was a part of the Swedish-Norwegian union. This means that Social democracy in Norway and Sweden predates Nato with more than 50 years. Also, Sweden and Finland have never been members of NATO and have not gotten a "freedom treatment" either. This treatment that you are referring to happened to socialistic countries, not sosial democratic countries.
@@Felixxxxxxxxx Iran was not a socialistic country when they tried nationalizing oil resources, and subsequently got the freedom treatment.
Sweden and Finland never discovered national resources on the level that Norway did, so the nationalization of such things has never been an issue in these countries. Sweden and Finland has still always been a very close ally of several Nato members and they're members of NORDEFCO, so the fact that they are not NATO members doesn't really matter much.
Being socialistic or social democratic is anyway beside the point. In the post-war period of discovering oil and gas, a lot of countries tried controlling these resources, as did Norway. This went against the economic interests of the United States, and so the US intervened in several countries in accordance with the economic interests of their international conglomerates.
Lucky for Norway, it was in Europe, and a part of Nato, which means it was protected against intervention to a certain degree.
Norwegian video: *exists*
Norwegian people: hmm, yes another piece of art. *click*
piece
T Peterson ok lol
Nei i norge snakker vi norsk ikke engelsk
@@ILikePizza950 I see what you've done there :)
Det var ganske bra
TH-cam has suggestd this video to me like 15 times before i clicked it. Probably because I like educational videos and I am Norwegian.
in most countries - what you want is cheap (like eating out, and Things in general), and what you need is expensive (like education and medical help). in norway its the opposite! :)
You mean in the US?
Atipong Pathanasethpong yeah,, just didnt want to be so specific hahaha
Actually in most the countries education and healthcare is way cheaper than it's in the U.S.
Beautifully illustrated!!!!!
Bullshit. In America, children from age 4-17 get free education. And after that, you can go to a Community College and get a degree for very little money. The problem is many American students prefer to pay a lot of money just so they can get the prestige of going to a recognized university. If you take the fact that in America, food is really cheap, and fuel is really cheap, and taxes are really low, you are better off living in the U.S. If you find a full time job here, most companies will offer health insurance. And the medical system in the USA is the best in the world. Sure, we have poor people in America. But you would have poor people in Norway if you Norway had to import 40 million illegal aliens from poor countries just like we have to do. Also we have a lot more black people in America. And blacks tend to always be poor no matter where they live. But don't worry. Muslim refugees are now flooding Europe. In a few years, Norway will look more like a 3rd world country.
As a Norwegian i feel safe and comfortable in my home, and to me, that's better than all the money in the world.
That’s a low bar lol
@@therealbuba Nice troll kiddo
@@coffeejack7458 what’s the troll lol, if your goal in life is just to feel safe and comfortable at home you can do that in most of the developed world
@@therealbuba He never said "My goal in life" and we both know he was referring to countries where safety and comfort is not the case.
Now do your homework and help your mother with the waffle tray.
@@coffeejack7458 I guess you can’t read in between the lines, happy you get a kick out of your infantile insults tho
Norway: lvl 1 crook
*Finds oil*
Norway: lvl 100 Mafia boss
Niklas Vilhelm *This is Gold*
Yep, that's how mafia works!
Pump plays*
Lol
What you mean niklas?
Bern to Norway twice, in winter and summer. Absolutely love that country. I wish the Norwegians all the best.
Nice to hear. Sorry for the exspensiveness..
i live here and shit is so expensive 1$ can maybe get you a pack of gum
Thanks, best of luck to you too
@@elijahsamuel0556 try 3 dollars
BARRA MANN ye but the average person earns a lot more that many other countries
i'm from Venezuela
my country did exactly the opposite of this video
:(
I may be wrong, but wasn't it stated a few years back that Venezuela was a very happy country? If so, would that be the effect of riding the high, and now the fall comes?
@@stonywings5888 It was until they ran out of other peoples money.
Los escandinavos son muy distintos del resto de otras sociedades
BeGood 2Me funnily enough Venezuela’s economy is 70% in the private sector and China is the opposite with 60-70% of the economy in the state sector yet they’re seen as a perfect example of capitalism.
BeGood 2Me china’s economy is state capitalist in some areas but not completely
Norway invests in my countrymen’s education through scholarships. Thank you, Norway!
@The Plain Bagel
Ahhh yes, Bitcoin add lol
So they pay 100% if you go to Oxford or MIT or Yale?
@@jeffschlarb4965 Those mostly only exist in the US.
Np, we like to help :D
@@jeffschlarb4965 it's depending, we will try to help you out, but you must also help put a effort on it
Norway: nationalizes it's oil production
CIA: *visibly sweating*
Norway: Is in NATO
CIA: mission failed we'll get em next time
Nationalize is taking over foreign properties. Norway created its own oli company owned by the state.
@K Korona its a joke stupid
The US can always kick out Norway
@@user-gu1hl2kx2k lol, no it can't
Lol, do you really think the CIA cares about what Norway does with their oil.
If the whole world is a group of kids on Halloween then Norway is the kid who rations his sweets while the rest of us have tummy aches and cavities
My god this is underrated
Belgium is the two kids who go out trick or treating, one going from door to door and collecting as many sweets as possible, the other getting tired halfway trough and going home instead, then when the first one comes home and the other one sees that the first has way more candy, he throws a tantrum after which their mother orders the first kid to give half his candy to the second one
@@istoppedcaring6209 are you part of the VB ?
@@thatrandomguyontheinternet2477 I actually never was, though the way things are going I am considdering voting for them next time, it does not take a genius to see Belgium is rife with corruption and is rolling about as well as a cube covered in tar, in reference to "WWWWWWWWWWWW" if all the isues can get solved without seperatism, fine, but otherwise
@@istoppedcaring6209 so you are giving them more fuel
Just vote for the other party’s
Norway is the perfect economy, for Norway.
why only for norway?
@@reudensplasher1659 pretty much what the video said. Norway’s system is based around their opportunities (e.g. low population, high oil reserves)
@@reudensplasher1659 That's a racist dog whistle. Some people believe that the reason Scandinavian countries are prosocial is because they're overwhelmingly mono-national and that's supposedly proof that social nets wouldn't work in multicultural societies. This view is particularly popular among Americans because it's perpetuated by the media there, both Republican & Democrat-affiliated.
Yeah...an economy based of exporting petrol while considering itself "green and environmental focussed" and killing even more whales per year than Japan . Yeah. Pretty hipocritical
@@sigissigis3174 I would not say it is proof but it is something to consider as a possible contributing factor. I
What a wonderful country. Can’t wait to visit one day. Best wishes from the US.
I'm from Denmark. and if I had to pick another country I would lives in. I would go to Norway, our standard of living the economy the way people act and think are in almost perfect synergy. I'd say Norway and Denmark are 90% the same. It's kinda like having a twin. also if all the Nordic countries were to Merge together, Guess whos the new Superpower. It's not the Us. or Russia!
@@wardope True, if yall banded together you could become a badass viking union. But there wouldn't really be a point in doing that, after all, I dont think there is much war on the north right now.
@@wardope well it’s not like you where one and then very close allies for basically all medieval and modern history
@@wardope well the thing is that we Norwegians kinda hate sweden for abusing us thru history. There is actually a hole genre of jokes called "svenskevitser" maling fun of sweds.
@@wardope if all those countries would suddunly marge you would have chaos, hard to become a superpower when theres no balance. also what exacly tells you that the nordic powers would surpass the current superpowers exactly even if merging would not result in chaos? in addition to that its hard to belive that the current powers would just sit with their hands crossed when some nordic alliance is growing in power and threatens their positions
It's simple to me,
corruption in Norway is very low,
That's the reason for a successful prosperous country....
@@ayyappanchithambaram4575 wait is it very racist in norway?
@K I mean it depends on the political party in Norway, some political parties here really don't want immigration
Norway's the most corrupt of all the Nordic countries.
You can fact check that all you want.
Fuqu Pal yea u can’t really have a generous welfare state and open border immigration. Although I would love to move to Norway or Sweden
@@jonathanalvarez3875 Yeah no actually in fact you can indeed have immigration and a generous welfare state. Try looking at, oh l don't know, say Norway for instance.
Im from Norway and this has increased my ego a ton.
I'm from Norway, and I understand that there is so much bullshit going on in Norway as well, but I'm grateful that I'm not decapitated for pointing it out.
You should kinda have a ego in terms of how shit other countries in the world are.
Balkan > Norway
Norge er best
Norway has much to be proud of, keep up the good work.
I lived in Norway for a year attending Lundheim folkehogskole (basically a gap year school), and it was one of the best experiences of my life. I wish I could have stayed longer without being an entire ocean away from the rest of my family. There is a certain upbeat atmosphere there that I love, even when it's cold and dreary outside, and the people are just generally nicer, even though my Norwegian is garbage.
Ty, I live in Norway 🇳🇴
I went to the exact same place as you did actually, and yeah it's a pretty nice place. If you did so more recently than me, did they still have those fishballs in white sauce? Pretty sure they were the least popular dish they served and whenever that was on the menu, everyone just cooked their own stuff, or walked on down to Moi for some food.
But hey, it at least gave us some exercise.
@@Darca1n I don't think they still served them, they must have realized that people didn't like them.
@Darca1n and @Poppyseed_423, dont you guys trash my fiskeboller i hvit saus med raspa gulerøtter, karri og kokte poteter. It is delicious stuff, and I make sure to cook it at least once a month.
Garbage is good cause with it we can heat houses , so that means your norwegian is hot , greetings from sweden
He should mention that electric cars have no taxes and are much cheaper in Norway than in other countries.
The importance of unions isn't mentioned.
Regarding the cost at restaurants: Even the waitresses have a decent payment.
*And this is very important:* Judges aren't appointed by politicians! Dark money in politics is illegal! Voter suppression laws and Gerrymandering doesn't exist and are illegal. Every citizen of the age of 18, including prisoners, is allowed to vote.
Although even those have some problems. Electric cars are not the future and I hate people talking about them as they still require fossil fuels and there are tons of human rights violations that go into extracting the raw materials to make them. Also personally I don’t think *everyone* should vote as there are some lunatics out there who have proven that they should not be allowed to vote. But other than that Norway is a great place to live and if I could I’d gladly emigrate there
I visited Norway last year and was surprised to see the number of Tesla's and other electric cars. The idea they are all being filled up with hydro electricity makes me really happy! What a country!
@@therealspeedwagon1451 Indeed. Norway also has decent public transport.
Seeing Norwegians feeling proud of their achievements, I can't be mad if they can back it up. Fair play.
@Christian Lopez yes, a few bold politicians created the system, but make no mistake, every person in Norway could "cash out" 200 000 dollars in a quick fix. There has always been cheap politicians arguing that they would spend more money if elected. Every time we vote, we choose to to protect this model, it was never a one time choice. Making this choice over and over again, having high participation in the workforce by women, and strong cooperation between employers and unions keep us safe. Combined with the scandinavian way of life where trust and altruism is highly valued, its a recipe for collective prosperity. There is a reason why Norwegians had relatively good standards of living even as a poor country, the poorest segment of the population still had far more than in other countries. I think this is something we should all feel a little bit proud of.
LOOOOOOOOL
They're living off the pollution of the planet! They're almost singlehandedly causing climate change.
@@rand49er Not more than you who consume the merch.
@@rand49er wdym, norway is one of the most eco friendly countries.
As a swede and getting this recommended to me seems like a punch to my face... nice vid anyways.
Hahah
RedDerater hahahahah fattige jævler
I feel you bro
-Denmark
As a Finn I can agree too
You make good without oil (correct me if you have oil, too). I think it is a better achievement.
Norway is the guy who invested in bitcoin 10 years ago and now everyone wants to do the same
Norway is the guy who invented bitcoin
BIBO u can’t just resay the joke
@@Tylerrocks I did not, learn how to read.
@@Tylerrocks Ok listen here simpleton. He says Norway is the guy who INVESTED in bitcoin 10 years ago, clearly indicating how smart and rich we got from that. I said Norway is the guy who INVENTED bitcoin, not stealing his joke, just clearly exaggerating to get a few extra laughs.
BIBO th-cam.com/video/rM9WGgyDssU/w-d-xo.html y e s. That’s talking about the whole comment btw, like you calling me a simpleton.
Norway gave me Black Metal and made me happiest man alive. Thank you, Norway! Also, I live in Norway and Croatia, two of the most beautiful and safest countries in the world. I'm very lucky!
There economy is depended on oil, 50% of there exports. I listen to one band from Norway called Zero Zonic
a rare case of being smart and lucky at the same time. And the landscape is f*ing beautiful
luck is when preparation meets opportunity
Mihai Ionuț good one
Norweigan kids i can see that by ur names. Hahah pathetic. LETS GO DENMARK LETS GO!! The prettiest country with the prettiest ppl ^^ And Best Counter strike team
Maybe you are also proud of your "Child Protective Services" Barnevernet?
@@dianastavreva8943 The general public in Norway doesn't really care about Barnevernet, and the majority of those who do care think that there's something seriously wrong with some of their procedures. Last week I read about teenagers who'd been sent out to cabins in the woods to be isolated from society for months for "their own good" in VG, the biggest newspaper in Norway. In the aftermath, several state officials came out to either denounce or apologise for the practice. Barnevernet seems to have run rampant for decades with an extremely left-leaning practice that neglects the importance of parents thoroughly. It's all about what often incompetent state workers see fit for kids from damaged homes.
Fun Fact: When the Nintendo Switch was released the value of the Norwegian Oil Fund increased. The reason for this is because the Oil Fund has stocks in Nintendo.
they have invested in almost every single huge corporation on earth, including disney, apple, samsung etc. They own a total of around 1.4 percent of the world's stocks
Good English mate
@@gullfeber We tend to steer clear of corporations that maintain or produce ICBM's and/or nuclear weapons. We also avoid corporations like Walmart due to labor/human rights
Jesus Christ well damn. Thank you Jesus
Konichiwa to Japan from Norway
Result of honest, responsible and corruption free government.
That's what happens when publicly run companies own the oil instead of private companies. Greed is a decaying policy
I wish... No, there's plenty of corruption here, better hidden than in many other places perhaps, but still.
Jesus, if you think Norway is anything you described, get help.
Corrupt free, explain the billions they loose each year that just disappears into the thin fucking air.
Norway has mastered the art of proper propaganda, to hide all its flaws.
@@SMGJohn indeed.
@@SMGJohn is what you think
Sincerely, I think it comes down to low corruption levels. Most other countries in the same situation would have been robbed into destitution by their own politicians, unions and businessmen.
Would have? We already have been robbed bare in North America. Now our crooked leaders are locking in their gains and getting ready to bankrupt the lower classes.
Norway has some of the strongest unions in the west. Unions keep the working conditions good and ensure the workers a livable wage.
@@skjalgstangnes4233 if they work the way they're intended. Nazi germany also had unions, that had been politically equalized. You cannot just say "worker unions are good , do this and that" - any organisation, structure, or institution exists by its lable and common sense, it's not a physical entity with a stable constitution. If people change, the common sense of these organisations etc. changes with them.
So the people are the reason, why these things are working, not their mere existence.
As a Spaniard, I confirm that.
Politicians and the State are just a reflection of the majority of citizens...
I must say, I am truly amazed by this video. I am currently studying social economics, in Norway, and I was expecting you as a foreigner to have it all wrong, but you truly nailed it, and to a high level of detail! Great work!
Yeah everything was correct....well.... except those things that wasn't correct.
Samfunnsøkonomi? Where do you study?
What are you talking about? Way off on many things.
@@akuseru85 like what?
It should be noted that a capitalist mixed economy with social welfare is NOT socialism, nor Norway is not a socialist country at all.
Socialism means the government owning all commercial means of production. That is not the same as having a state run army, police service or ambulance and healthcare which are considered non commercial entities. Every developed country has a pension system and pensions are not a socialist idea they came from workers building societies in the 19th century
@@Chris-pq3wp Is the state owning oil production, on behalf of the public, not exactly what you're describing? Certainly state education, healthcare and welfare were all socialist ideas, and I'm fairly certain that pensions were about long before the 19th century. On that basis, I think socialism has given us some of the most important parts of modern society. I don't know many socialists who want governmental control over all resources, but socialist policy in the areas where it's been proven more effective, such as trains, healthcare, etc. and more of a planned economy, where the government can create employment in areas for national development - like Roosevelt's CCC. I think Americans have just been brainwashed to think that socialism means some sort of Stalinist dictatorship, which wasn't what even Karl Marx was agitating for. I'm more interested in Kier Hardie, Robert Owen, and the other incredible socialists who helped bring their workers out of poverty and liberate women at a time when the poor were so badly abused they would cut their lifespans in two working - like my ancestors in coal pits. *EDIT - pensions go back to 13 BC, but it looks like the first modern universal pensions were in Germany in 1883 by Otto von Bismarck, under his 'state socialism program. in heavily Capitalist societies, we're encouraged to ignore all the legacy of socialism...*
@@Chris-pq3wp no sir. That's Communism. Communism is where the government own all means of production. Socialism is where the workers own the means of production
@@danielschmidt2683 Communism is the end goal of socialism.
What are you getting at?
Socialism is the idea that the government should intervene in a way of the free market that is initially free and can only be unfree by governments or large firms.
Socialism is about a government by use of power or threat of power getting ressources from the people so it can implement its policies.
In a complete capitalist point of view those extracted ressources should only be enough to have a law and order system that works and a military that can protect from foreign powers.
The socialist point of view is fairly modern as it says the government shall take over the roles of what the church once did. Which is providing for the poor and offering medical help.
Socialism is about still letting work be done by individuals but a government getting ressources from that and then using it to complete socialist reforms.
In these means the scandinavian countries is welfare states= social democracies. Which means democracies where government by legitimacy of its people take the neccesary fruits of the peoples labor and uses it to implement its societal approved policies such as healthcare.
Communism is the result of when a government or a people sees the labor not the right of the individuals but as a right of the entire people and hence it becomes controlled by the people and the people are controlled by their elected government. In communism you don't own anything and you don't have any rights. That is because the people comes before you as an individual.
While in socialism you do own things and have rights however the government will be forcing you to pay for these rights and things. For an example you have to pay money every year to government for owning land. Because when you own land as an individual you don't actually own it you just have permission by government to use that land, and have to pay annual fees to keep that permission.
Ofc Norwegian people get this on recommended😂😂
Well I'm learning Norwegian and got this on my recommended list. 😂
selvskryt er velskryt
sknnrs where you live?
Yes i did :D
sknnrs how is your norwegian language doing?
I envy Norway's leader/mastermind during the time they struck oil. He is a deligent father who has vision for his countrymen and motherland.
the man you could call the "mastermind" of this model was actually from Iraq. we can thank Farouk Al-Kasim for much of the way the model was built, he was hired as a consultent by the gouverment.
@@dristmist7401 ye,a consultant not a president LOL
@@dristmist7401 lol no sand people contribute anything towards the success of norway
@@superbatmanwayne read a little about Farouk Al-Kasim my friend, he was a big influence on the government when developing the model for Norway's petroleum industry.
I’m Norwegian and now I feel rich even thought I’m not
you are richer than 99,99999% of all people in the world. As is every European. You should consider yourself rich.
Chreeq so I'm rich too? I'm from norway
@@Chreeq Exactly. By law you cannot starve in Norway, as long as you can be bothered to show up at a Welfare & Work office if you are desperate. The minimum living standard here is: a roof over you head, electricity paid, and about $1000 a month for everything else. Health care included, and tuition free higher education if you want it (of course there are extra allowances if you have children or handicaps)
@@Chreeq I think u can consider ur numbers again.
Rich as in rich in dept
Goddammit they didn't get the Freedom Treatment...
There is still time!
Norway - bitting nails & sweating profusely
@Vilicus if any of yo army boys come here, they won’t come back
@Vilicus No
@Vilicus AHHAHAHAHA
Norway was basically that nerdy kid in class that grew to be a billionaire
This!
The fact you get paid by the government for being without a job, so you dont starve or become homeless is my favourite thing about Norway💞
It also gives a whole bunch of people an incentive to not work. There should be a certain limit to the money received in terms of months until ones finds a proper mode of employment.
@@siddhantbhat6048 You get rent money and just about enough to make it through the month, not enough for having car insurance or anything like that. If living like that is incentive to not work by all means just live like that. But that system is priceless for the people who actually ends up needing it.
@@DJmetro1994 Living like that is a burden to your fellow taxpayers though, and it’s just not a healthy way to live at all.
@@siddhantbhat6048 I guess you missed the part of the video where it said Norway has one of the lowest unemployment rates.
@@siddhantbhat6048 The economy is still turning. Keep kissing your elites shoes that you sanded you deluded clown
Congratulations Norway 🇳🇴
Cheers from Portugal 🇵🇹
Portugal caralho
Cheers to portugal from norway!
caralho ✊🏻
Se tivessemos petrolio provavelmente continuavamos pobres e os politicos corruptos entregavam tudo a empresas privadas
devolve nosso ouro
the rest of scandinavia when norway found oil: *anger*
Hell, Sweden even got the option to join in, but decided against it
Nah, it's great living next door to those filthy rich fishermen - They all go shopping for stuff on our side of the mountain when they need food, cars and infrastructure equipment...
@@mariapz101 No, Norway is our second biggest export market after Germany. Swedish companies do very well selling stuff westwards :)
@Troll Trollsen norsk, men antar det funker for deg med det navnet.www.nrk.no/norge/xl/volvo-skulle-bli-norsk-og-oljen-i-nordsjoen-svensk-1.13900153
Denmark found gas
Any norwegians just randomly got this in their recommended suddenly?
You probably click on everything Norway lol
It has been in my recommendeds for weeks. I kept away from it for a long time, but in the end, My norwegian brain is like "MUST WATCH FOREIGN VIDEO ABOUT NORWAY!!!"
Lenge leve Norge
Long live Norway
I got recomended even though i’m from sweden
Meg
I'm Dutch and we're doing pretty well, but I always wished we would look at the Norwegians more. I really like their policies, and for what it's worth every Norwegian I've ever met was really friendly and eloquent.
I worked a month on and a month off in Norway for 4 years. The cost of living is very high as was pointed out in the video with the car prices but the lads i worked with explained it to me that they get tax relief (tax cut) when they buy a house, get married, have children or buy a car. So they actually benefit financially by buying and doing these things. If anyone is lucky enough to go to Norway as it is a beautiful country with lovely people, the first thing that you will notice is you rarely see old cars and how affluent it is there.
Hmm.. Anyone telling you how much debt they had? Loads have debt they'll never get paid down...
Housing: Buying a 30 square meter flat in Oslo is 2-3 MILLION NOK ..Equal aprox to 250 000-350 000 USD ... So young people already in HUGE debt from studying, are basically debtslaves and our freedom is one of 'Oh ok...all others accept it thus I will too' .. Education is strictly aimed towards getting revenue ..or does anyone really think we'd have criminaly high sucide rates and a HUGE alcohol and drug abuse if we had social education and aimed for true freedom and self-awareness ??
Few here would move their arses even if a government decides to implement policies that see 10-20 % or more of the population plummit into radical poverty .. We're a bunch of HIGH on our own propaganda .. Oh and btw: No need for the democracy treatment as WE do whatever the US asks us to do.. Told to jump we eagerly ask .. HOW HIGH ALMIGHTY US ?? That high, ok we'll add 100 meters to that ..
@@Teleboogie70 That HUGE debt that you get from studying is nothing compared to the US. For a bachelor's degree, you end up with a debt of about $18 000 which is nothing compared to the US, where you can pay that each semester. The debt is also one of the cheapest debt you can have.
Also, the cost of a property increases because people are willing to spend that much money. Go outside Oslo and the prices drop. Also, the income in Norway is higher than in most other countries and in Oslo, the income is higher than the rest of the country.
The suicide rate in Norway is a problem, but Norway is no way worse than most others, We are number 74 in suicide by capita worse than Denmark(89) but better than Finland(32), Sweden(51), and Island(40). In drug and alcohol abuse we are also about average.
im norwegian and NO
I live in Costa Rica, a poor county and I don't see any old cars here either. The power of the love of borrowing.
@@davidking4779 i'm norwegian and my friend is a huge fan of Costa Rica! she flyes there almost all the time! :D
Fun fact; Before Norway found oil, they wanted to make a deal with Sweden-- they said; ''If we find oil, we give you 50% of the profit from the oil, in exchange for owning and getting 50% profit of the -Saab- (IT WAS VOLVO, K GUYS????) automobile company.'' Sweden DECLINED, today Norway is rich, and Sweden's Saab company has ceased to exist as of 2011. Sweden, you done goof'ed.
Km norwegian and so happy that didnt happen
This is only partially correct. IT was Volvo, not Saab. And Norway offered Volvo concessions in the North Sea in return for 40 % of Volvo stocks.
Thats wrong, it wasn,t Saab, it was the Volvo company, and it wasn,t 5o /50 it was 50% of Volvo against about 20% of the Norwegian oil. The seal was practical done, but but in the last minute the stock owners in Volvo got cold feet and turned the thumbs down. Bet they have regret that ever since
@@ghauan In that case, thank you for correcting me.
@@rinostellmacher5409 Thank you for correcting me.
The notion that Norway got rich based on its oil production is a lot misleading. It is way too simply understanding of what happened. I'll try to keep it short.
It starts much earlier. With the Government understanding that all the natural resources belong to the people as you mention. This is codified in law in the early 20th century with "Hjemfallsloven". Look it up.
That allowed Norway to build out its Hydroelectric power plants and grid with foreign investment throughout the 20th century while still keeping ownership long term over it.
That allowed us to build out steel industry and ship building industry close to these plants as these were severely energy hungry industries. We subsidized these industries with cheap energy and started out with low wages. The reason we had these industries to begin with was to stock our large merchant marine.
We also quite early in the 20th century started large education programs that produced skilled workers. To keep our workers healthy. We gave them healthcare and pension. We created strong labor laws and unions to prevent them from being exploited. It meant that these industries were extremely attractive.
When we discovered oil in the 60s, that meant we really had all the elements already in place to take advantage of this entire industry and build it "in-house"(there are some exceptions to this, which were the drilling technology that we outright expropriated). We then could build the oil platforms out of steel from our own steel works. We could supply it with our own built ships that were more tailored to handle the rough weather of the North Sea. We could staff them with our own educated workers. With great labor laws that mean they weren't being exploited. We could own it ourselves and lease the blocks out through our laws. And we could export most of the products because we used hydro electric to power our domestic consumption.
You can claim this is "luck". But it also is doing the right steps needed to take full advantage of an opportunity when it arises. That is why most Norwegians grin when people claim it is luck and all based on oil. It isn't. It has taken a century and more of work to get to this point. Thinking long term and the good of everyone instead of just me. There are lessons to be learned here for any nation.
It's basically down to quality institutions like a fair labor market, free education and health care.
See research and book by MIT and Harvard WHY NATIONS FAILcom
Thank you! To add to this, it's not like we were poor in the early 1900s like the video might give an impression of, but we were a low-cost country then. We had a much higher growth in GDP from 1913 to 1950 compared to Western Europe (2.1% vs 0.8%) much due to this and the reasons you mention. We did fall behind from 1950 to 1973 when Western Europe had an unprecedented growth period, we had some failed strategies, shipping took a hit (for us) and we had our growth between the wars rather then after WWII when Western Europe did. The oil certainly helped but we wouldn't be piss poor or have less social welfare without it.
Very good post.
I would also like to mention the system we developed(the norwegian model or the nordic model) in the 30s where represents of labour, employers and the state in a set of rules negotiated prices on raw materials, wages etc for the years following. this provided predictability in the economy witch was crucial for the economic growth
You forgot to add the part where you got lucky in how the lines were drawn in splitting the north sea between Denmark and Norway. Denmark would've owned the Ekofisk field if the North Sea had not been drawn up by the equidistance principle. But that doesn't change the fact that our politicians were so stupid in how they handled the oil we do have. Privatising it in the worst thinkable ways.
So my interest in norway has nothing to do with the social programs and everything to do with its "Hedge fund", its genius in my opinion. I mean any government that somewhat pays for itself has a huge advantage over governments that cannot. If you think about it, the hedge fund idea, taken to the extreme, could allow a government to pay for all the "social net" policies that you want, without even taking taxpayer dollars. Of course thats an extreme and we dont know if thats even possible, but to me its amazing.
See the reason most libertarians hate democratic social policies is because if the government fails it would prove catastrophic for its citizens. And I see their point, because technically speaking government run healthcare *for example* is a gaint non-profit business- and if its funded purely on taxpayer dollars, that means that every single mismanagment and issue is a loss of standard of living, particularly if it outlawed privatized healthcare. If it failed outright, it could collapse the economy. And thus is the argument for libertarians; if a business fails, it only hurts those in the direct lives of thouse funding it and maybe some of their customers have to drive further or pay more, if the government fails then its citizens have to pay back immense ammounts of debt for something that didnt even work.
The government isn't allowed to fail while private entreprises can. But this whole hedge fund with the government only being able to use the profits, thats an insane idea, because that means that you could try for universal healthcare without using half of the risk that would normally be entailed. Not to mention, you could leave privatized healthcare and simply provide cheap healthcare for the lower income classes, so long as it stayed within the budget of the profits from the fund. Thats amazing, because it creates a safety net with zero risk of hurting the economy. And to libertarians, not hurting the economy is the key, because a hurt economy, or a single failed social program, makes it even harder for the lower class, and can actually cause poverty. You could have hedge funds to negate all of this, if your government waited long enough.
Update:
Norway's sovereign wealth fund is now (2nd of October 2021) worth $1,337 trillion a 33% growth since June 2019.
I'm afraid it hasn't got any plans of stopping soon xD
their gdp is in a decline though
thanks for the update! i was curious with covid how it all went
@@7katter Because of Covid...
5:14 - Always funny to think that the UK and Norway found oil in the North Sea at roughly the same time. Norway chose to, basically, nationalise the oil and use it for the good of the people and their future. The UK had an unpopular Conservative government that chose to privatise their oil, and attempt to (successfully, at the time) buy votes with tax cuts to keep themselves in power.
The UK thought that oil wealth would last forever, so spent their oil wealth like it was going out of fashion. Norway realised it wouldn't last forever, so setup for the people for the future.
I much prefer the Norwegian model.....
Because 90% of the UK's oil was in Scottish waters, and there was already starting to be a movement within Scotland to break up the UK union since the end of World War 2.
(England + Scotland voted to join together in 1707, since they had the same monarch through royal marriages of the old Scottish and English royal families).
Scotland even had narrow vote to stay a member country of the UK in the 1970s.
The UK government, dominated by the English population, needed to use that oil quickly.
en.wikipedia.org/wiki/McCrone_report
Norway is an exception. Throughout recent history, nationalization has almost always meant lower productivity, higher corruption, lower accountability and lower citizen liberty and quality of life. So Norway nationalized and did well. Great. Kudos to them. Now ask: Russia, Romania, Bulgaria, Estonia, Poland, Latvia, Lithuania, Belarus, Georgia, Vietnam, Cambodia, Cuba, Venezuela, and a ton of other countries what they think of nationalization.
@@Bavanai different cultures. Grasrota & dugnad. Proletarians rule🤙
Why make such a silly comparison?
UK is about 13 X the population so would need to have discovered 13 X as much oil and gas to be comparable. Had the UK found 13 X as much oil and gas as it did then I'm sure the UK would have had the excess to save too
Also Norway has huge hydropower which produces 99% of its electricity and heating needs. UK has no significant hydropower so most the gas from the north sea was used for electricity generation and heating UK homes that is to say domestic needs. there was no mass exports of gas and in fact the UK imports natural gas today... again the significant difference being the more than 13x difference in population size
Norway was the lucky country in four significant ways. Significant hydropower. Significant oil. Significant gas. Relatively small population
If the UK was 5 million and Norway was 66 million then the story would be about how great and wise the UK was for saving so much.
@@Bavanai BP (British petroleum) was also majority state owned
The primary difference between the UK and Norway was population size. The UK North sea oil and gas isn't even enough for UK consumption of oil and gas so the UK is a net importer of oil and gas. There was and is no vast UK North sea oil there is just enough to meet a bit more than half our need while on Norway their oil and gas is more than 10 X their own needs so they are able to export a lot and save a lot of that.
“The freedom treatment” LMAO
It’s very real
Andy Diaz lmao its real, i live in Norway
@@EconomicsExplained Could you do a video on that? Sounds interesting
I wish people would stop hating on the US. They are now doing exactly the same what England, France, Netherlands and Spain did some 200-300 years ago and what both USA the USSR did until the fall of the Iron curtain. In 50-100 year time, or even less, someone will take their place and continue.
Momcilo Lukovic not picking sides here but there’s a difference between doing something 200-300 years ago and doing it today
"Freedom treatment" 🤣🤣🤣🤣
Glad someone picked up and got a laugh out of that.
@@EconomicsExplained the best part was the bald eagle in the background
Honestly couldn't help but burst out laughing when that part came along...
Kwaesi Laguer There be oil in those parts thar 'cross the pond. We should look into..freedom solutions.
Aw fuck, it's natOil. Let’s just force some bad fighting birds on them, then. Squaaaak!
Economics Explained As a fellow Australian, what a shame our govt didn’t set up a sovereign fund for our resources boom. But no, sadly the “profit before people” paradigm is what we are lumbered with. Norway got it right.
As a Norwegian.
I am proud of my country.
As a Norwegian, my whole life has been horrible.
@@Venomonomonom you're not a Norwegian
Oil is behind 15% of Norways wealth, what makes ous truely rich is Salmon and Hydropower plant. As we are the biggest producers. Also, we use oil money to invest in compaines around the world, currently owning 1.4% of all stocks in the world. We own massive parts of Microsoft, Apple, Nestle, etc.
- Fish
- Hydropower Plant
- Oil
- Stocks investment
This may sound dumb but what about when you run out of oil ?
@@AdityaDeo-cg6eu You wont run out of oil. The state is going to stop oil in 2050 lol. 30 yrs from now. by then, everyone have electric car and therefor u can continue pump oil, as the world has already become stable green. Oil is used for so much more then just energy and transport.
@@Repz98 it's used partially to produce plastic, right?
Chrono-Glitch WaterLily yes, it used to make plastic as well. No oil = No heroin injection for lefties anti-oil people.
@@Repz98 I got the first statement. Got kinda confused with the second bit for a while 👉👈 lol 😂
"If you do find yourself in a country that has won the oil lottery, Norway should really be the framework that you are working on" *Venezuela intensifies*
Knut Visdal haha yeah someone had to say it
You have to first be a part of NATO/OTAN.
@@daghugowilhelmsen5660 wrong
@@MrJacobElias Not my words, see the video again.
@@daghugowilhelmsen5660 Still wrong
They literally go to sweden to buy food if they live close enough, thats how expensive their stuff is!
And people in Sweden go to Norway for work
I guess they do it because they can, not because they must
Yeah, or 2 timeas a year. We drive to sweeden to buy candy, and loads of other stuff...
Food? No!
Alcohol and tobacco? Fuck yes!
Pack of snus or ciggarettes are twice as expensive in Norway!
But only for candy.
Even in the 1960s, before the oil discovery, Norway had some very advanced engineering industries like designing and manufacturing of electric locomotives, Diesel engines which doesn't exist in countries like Bangladesh, Nigeria and Greece to this day. Even in the 1960s, Norway's economy was more advanced than Spain.
Doesn`t or do?
Spain wasn't developed in the 1960s
"Companies that have breached workers' rights": *WALMART*
NOT SURPRISING
Wal Mart is terrible. I mean they literally have given out paperwork for welfare/food stamps to new employees. Basically they expect the government to fund them because they'd rather pay their people terrible wages, for a really shitty job.
you are lucky. just check india condition then u will know how australia far better than india.
Oil profits in hands of the government recipes:
Norway: Sovereign funds
Arabs: Infraestructure
Latin america: Welfare programs
Guess in what region people is always protesting blaming capitalism for the lack of good public services and low quality of life.
in my opinion capitalism and sosialism work best in a jing jang harmony kind of way :)
@@hardgaymania6492 yeah we just gotta incorporate the best parts of both systems
unfortunately, American politicians will freak out over anything remotely left
@@adianchowdhury9016 dont they freak out No matter what?
Also corruption
@CalvinV7 So education in Texas is free?
If yes - how about health care?
edit; We have a saying in Norway and that is; Its totally texas.
It means total chaos. A cowboy riding in the Saloon blasting his guns while shouting hiyaaa... Total chaos :)
I need to correct one false statement here:
Equinor (the company you call Statoil) is a private company where the government is a shareholder.
There are other international companies drilling oil in Norway with the same rules as Equinor.. And it is based on Licenses. Where Norwegian Government takes 78% of income but also 78% of expenses.
Equinor. I refuse to call it that. They can't just re-brand and pretend they're not an oil company anymore just because oil is currently pretty unpopular. Do they seriously think we're going to see them as an "energy" company now? This is what happens when businesses go to the marketing division and ask "how can we appear more green?". Nope, not gonna fly, I'm still calling them Statoil. By the way, Statoil doesn't just operate in Norway anymore, they're all over the place now.
not just a shareholder but holds 67% of the company as of june 2019, expect it to be higher after the share buyback (kek to you loser that didnt buy at 151).
@@daniel4647 it's called that because they do just way more than Oil.
Thats about right
Equinor same same but different. Its a system held in place by,,,, account / taxes high /salary to the people. Just keep people on salary and the wheels turn
Who's here to see what EE's first video was?
Or at least the first listed video...
I am surprised there are no replies here. You make very good content man. Keep it up.
Responsible spending. Who ever thought that would be a working strategy?🤯
norway
As a norwegian one thing i've noticed about this country, people who controll it and people in general are very logical, and progressive for the greater good.
@@kasperknutsen8283 what is the logic behind destroying your own culture and welfare?
@@MS-we4wi it's always funny to see foreigners not knowing a crap about anything
@@kasperknutsen8283 Your nick really don't suit you. Why did you delete your other comment? Og hvor er den kunnskapsløse utlendingen du prater om?
Norway has one other benefit aside from finances, its ridiculously stupendously beautiful. I dont believe there is anywhere else on earth that is as beautiful.
New Zealand ;-)
Iceland and New Zealand would like a word
New Zealand's south island.
@@jurgentreue1200 SNZ and Norway pretty much the same.
Uh Switzerland?
2:25 In 1963, way before petroleum discoveries on the Norwegian Continental Shelf, Norway had the 11th highest GDP per capita (1775 USD) in the world. In other words, Norway had a higher GDP per capita than UK and France, and a lower GDP per capita than the US and Sweden. Source: The World Bank
In the 60s the Norwegian economy was NOT based on fishing. In 1969 (oil resources was discovered in December 1969) Norwegian industry generated 18 times as much GDP compared to fishing. Norway was in other words an industrialized country. Source: The Norwegian statistics bureau
Anyways, great video! :)
Yes, because it's the same people.
OK,
Despite this, up until 1962 the Argentine per capita GDP was higher than that of Austria, Italy, Japan and of its former colonial master, Spain.[7]
GDP per capita graph 1960-2015 by Google Public Data Explorer, sources from World Bank
@@jeffschlarb4965 Wait, your source that "up until 1962..." is from statistics starting at 1960? So Argentina was doing well for a whopping two whole years?
I'm just here for my daily dose of ego boost. Thanks!
fair
Lol same
Norway sucks. Sweden is so much better.
@@simplesimon8255 pfft try us
@@Oscar-tm9pt ur right, sorry. I meant to say Finland was better.
I wish my country, Nigeria will learn a lesson here. Our politicians are so corrupt that even the oil revenue put into government treasuries is stolen by government officials. That leads to the underdevelopment as you rightly mentioned in your video.
This is what Australia could have done, and missed out on.
From what I hear, Australia isn't that far off. Sure, the real estate prices have gone through the roof and the climate is getting worse but it still is a desirable place for many.
@@momcilolukovic6451 Unsustainable agriculture aint workin in aussies
I was going to say the same thing. Still an awesome place to live. But the government fucked up with the mining boom.
@@jackmccarthy4047 Why they fcked up? . Norway has only 5mil pop , no matter how they waste the money they still would end up rich .Also look up how many somalians they have ridiculous .
@@Cortesevasive I meant Australia fucked up. We should have followed what Norway did. Australia let foreign companies come in and barely taxed them.
Me : * lives in Norway *
Me : * doesn’t know any of these
Is it normal that a house in Norway costs 738 752,70+ in the USA? If it isn’t then UH OOP
Lazy_bxtch -gacha same
How do I migrate to norway
I also live in norway / jeg bor også i norge
Bayu Nugraha paint your face black, say oogabooga all the time, and you are getting full benefits in no time
@@bayunugraha5095 as a no troll answer, you apply. check www.udi.no/en/ This is where you apply
“ Norway didn’t get the freedom treatment in the 60s “ loved the phrase and the video. Thanks 😊
Greece:
Hold my debt
Dude I am young and I live in Greece. Trust me living here sucks and it's getting worse and worse. I wish I could move permanently to Norway or any other north European country.
@@johnwick3846 hope you can
Here in Spain there were also troubles, but what I have heard about Greece is much worse
I hope you can move to Norway
It's... Too.... Heavy
@@johnwick3846 Love and respect to you dude, your country is so beautiful and what happened is fucked up. I think Yanis Varoufakis was a visionary, and Europe will regret not helping Greece. You deserve all the best things, and I hope you can rebuild your economy x
@@SamHarrisonMusic Thank you for the kind words. Regarding what you have said, Yanis is an excellent as a professor of finance but he is not suitable for being a politician. His policies are somehow utopic and they do not seem to be down on earth. Unfortunately our former politicians only thought short term and now my generation is fucked up because they went on with all the wrong choices and now our debt is 175% of our gdp. But the EU as you said did not help Greece when it was needed. Instead of helping the economy to grow by bringing investors they imposed us a huge corporate tax(30%), they increased the sales tax and of course they cut all the wages by 40%. Guess what: Our debt went from 127% to 180% of gdp, our gdp per capita went from 32,000$ to 18,000$, all the companies went abroad, our unemployment increased to 25% and the living cost remained the same. Even those you endorsed the 1st memorandum admitted that it was not a good one but only after the damage was done.
Update: Statoil is now called Equinor
Thank you SirFroslass
That is true. Sure
SirSnorunt Equinor is using offshore drilling technologies to pioneer floating offshore wind power which will be a massive industry. The name was changed to take the oil in Statoil out of the state.
actually what Equinor plans is to take natural gas (ch4) as they currently do, split into H2 and Co2, sell H2 as green energy nd return all the Co2 back under the see using something calles CCS. nothing good, nothing so green, and name change took place for PR reasons, as oil is not a positive word today. only small portion of equinor investments are actually green and it has much to do with keeping a nice public image. personally I find it pathetic from a company like equinor to invest so little in renewable green energy
does anyone know why they changed names'? i have no idea
Feels bad Australia when we could've done a very similar thing with our natural resources
Gary mate your government doesn’t give a fuck about the population
We came so close to investing the mining boom in education, healthcare and infrastructure
THE LIBERAL GOVERNMENT
GOD DAMNED LIBERAL GOVERNMENT
You gotta compensate for that Emu war mate
Thomas , I live in Norway 22 years now. The best place I have ever been. The point is not to be rich but to be happy. If someone wants to be rich there is a price you must pay . Norwegian are the most positive sincere and honest people . Many people under your comment don’t realize that being rich is having responsibility. They think wrong and primitive. They think that big busses will find them . No , it doesn’t work like that . To have money and keep it is knowledge , discipline and sacrifice of your life . It’s nothing about sick narcissistic dreams. Best regards Daniel
This can be done in a small homogeneous country where there is a strong social compact.
True.
What's luckier than finding an oil well is finding one without the freedom package usually attached to massive oil wells
Freedom delivered to you by a shit load of G.I and a crap load of bombs.
Finding an oil well without the corruption package of corrupt officials using the oil money for themselves while failing to diversify the economy away from oil.
United States: Did someone say... oil?
hope they pay back all the money the have borowed soon then
I am Indian..living in Norway since 1975...and working whole mylife here in OIl Industry.!
Yes..I agree...that the most important factor is safety for every human being. Norway provids all that. Education..medical..is all free. By losing job..a person is not thrown on streets. Systems are in place to help every body..with in limits. I only remember all these years paying taxes..and taxes. But guess what now..when I am 72..and getting creepy(LOL)..I cant even imagine living any where else..not even to mention living back in India.
Simple reason..I live safe..peaceful..and no worries getting sick..and thrown away on street.
I love Norway and respect and thanks Norwegians..proving me all I have.
God bless Norway.
no, it is not free. A common misconception, but technically wrong
can you give me your whatsapp number, i am curious to know more information , if you don't mind
@@gullfeber Yes technically you are right..because I paid for every thing in advance.
@@kallachnadra healthcare is included in the taxes, we all pay for the food of the community
Im really mad that my great grand parents migrated to Washington back in the 1880s
Edit: Some if you guys are getting really serious about this 😂 I’m not angry that I’m in America so some of you guys don’t need to mention how grateful I should be cause I am! Have a good day 🙏
If Norway ever goes fully communist, we demand that you guys come back and straighten us up. Its all part of hedging the future, having a large diaspora will work wonders if the motherland goes a stray.
Norway was a terrible place to live for ordinary people at the time. Between 1830 and 1920 nearly a million people emigrated to the US, a large part of the population (today: still only 5 million).
John Williams the nordics are the best* sweden has the best quality military meanwhile norway has the cash money and denmark has the energy, iceland has the... heat? And findland the cold? I guess finland has wood
Bobbin Hellberg Sweden spends too little, it needs to bump up it’s expendidure by atleast 30 percent.
To be fair, staying in Norway would have changed your family’s historical timeline: you wouldn’t have been born. Everything happens for a reason.
Wish my country (the netherlands) would have done the same with all of the gas profits and invested it. Instead every government has spend it all and now we only have 20% gas left. We could have had a fund of around 500 billion aswell.
oh wauw dat wist ik niet
Stuff to never privatize:
-Stuff where there's no competition and where to profits by definition are very low.
-Stuff that makes you ultra rich.
Stuff to never privatize:
-stuff that makes you rich
-stuff that doesnt make you rich
every thing must be privatized. Nothing wrong with privatization.
@@VeryProPlayerYesSir1122 yes there is
@@VeryProPlayerYesSir1122 first of all the money doesn't go to the people
@@jensasplund2753 No instead it goes to an oligarchal System like the Unites States.
3:28 that "but" gets me everytime lol
bah
As soon as my lottery check arrives I'm moving to Norway.
hahah, why tho, its so expensive here. well hmm, actuely u can save money cuz if u get sendt to the hospital, u pay like max 200$ for everything
You don't need one. Property is suprisingly reasonable. People with 'middle class' incomes can easily afford a 2nd home there. Try eiendomsmegler 1, it's a well known property website.
Why? So you can lose even more of that lottery money in high taxes? If you win the lottery, you are set for life. Move to somewhere with low taxes.
@@xx_pcgamer_xx6866 Actually lottery income are protected from normal taxes in Norway, but I think that's if you win in Norwegian lottery.
@@terminusest9083 In that case, your middle class is very different from the middle class i know. The only people i know of that have two homes, are CEO's and similar. The middle class in Bærum is not the same as the middle class in the rest of Norway.
If you google "oljefondet" ypu can see a live count of the money the fund has.
That's really nice. I wish my country was like that of Norway.
@@rupertgarcia
Don't we all wish.
i found a map where we can see every single investment of every company they made from this link. they rich af.
But they are destroying the planet pumping out all that Oil!
Heck, if you go back to drilling off CA coast, and Open ANWAR in Alaska, USA could have all those FREE social programs ALSO
TALK to our GREEN party folks...
@@jeffschlarb4965 Norway is investing alot in green clean energy, thats the goal they are working to.
Norwegians way of life and economic system is really just the best. I got the opportunity to come across Anmol Singh, an Indian broker and my funds manager. I joined the trading group and it's has been really amazing. Multiple setups everyday, easy to learn videos and excellent spreadsheet, that is so useful for finding your own pattern. And most importantly he wants you to make your own self.
It's been over a decade since joining Global Stocks HedgeFunds under the guidance of Anmol Singh (Sir) and it has helped me achieve financial and personal freedom that a job could never provide me. At one point my wife and I were able to quit our jobs, buy our dream home and travel the world with our daughter as a result of the business Anmol Singh and his team of expert traders helped me build. Here's to another decade of success for all of us!
The failure of OPEC+ deal to cut the production of oil on March 9th brought down the price of Brent, the biggest one-day drop in 29 years. It’s still unclear for how long the period of low oil prices will last, Sir Anmol Singh will let you know more and give advices
Happy to have come across his email address from a colleague (anmoltradingstocks@gmail.com)
uncertainty is the only thing that’s certain about the markets, one just need to have contingencies for such scenerios. Having a diversified portfolio trading with Anmol Singh was just a great advice I got for me.
Hello everyone I’m from India.
Anmol is my trader and I can see positive feedbacks about him here. He truly deserves this acknowledgement and more, honestly he manages my funds and I earn weekly
Very informative episode. well as for me after accumulating surplus funds from high growth stocks, investing and trading with Anmol Singh. I tend to venture into real estate, as all my profits has been positive. And real estate is yet another serious income.
Both of us viewers are very pleased with your content!!
So Norway was lucky that the US didn't give them democracy. Imagine my shock..
Well actually ...
they are lucky that the US essentially foots their defense budget...
ye my country was well over lucky wasnt it..
Stuff your communism up your arse!
Stalin Steel it’s very small and years behind in comparison
The socially responsible nature of Norway's investments is truly and unfortunately remarkable
yummy, delicious oil pollution responsibility.
I dislike this video because it is recklessly misleading. It ignores at least three enormous factors, which greatly enhance the financial well-being of Norway. 1) immigration: Norway does not allow it 2) no military budget- the United States pays to defend the Norwegian people, and 3) the homogeneous population. Humans are above all: human. When individuals share a common cultural, and genetic background these individuals are likely to be more "kindly" towards one another. It is my belief that the Norwegian people's financial success can be primarily attributed to two characteristic's: selfishness and racism!
Fuck off soy boy
@@Greg-wm4on 1) 11% of Norways population are immigrants, and we are part of the Schengen agreement. 2) Norway spends 1,62% of our GDP on our military (For instance 52 F35 fighter jets). 3) Norway has always had the cultural minority Sami in the northern part, who have had their own senate for the last 50 years. FYI.
@@carlern8133 72% of your country's population is the exact same religion.
I really like the phrase "a boost to quality of life" at 5:27 and then showing the street called 'Strøget' in central Copenhagen, Denmark. Couldn't be more accurate! :-)
2nd time I have watched this and as an Australian I am still crying into all the foreign owned resources we have....
I'm planning to move there from the UK... love Norway 💜🤗 great country!
why😄
You will regret that. Im sorry to say. Unless you are rich ofcourse.
@@Alexander-eu3mu Can you explain why he would regret that? If he gets a job in norway he will get norwegian wages
Ask_os _ are you from norway?
Alexander Dupont yes
Norway went from Ivar the Boneless to Alan the Walker
i understand your joke, but it doesnt work, because alan isnt a common name. In fact only about 500 people are named alan in norway...
@@riftborn1058 Yes. But Alan Walker is a little British tho, maybe that's why he has an "english" name instead of a Norwegian name.
@@riftborn1058 If he did Rolf the Walker to Allan the Walker it would kinda work.
@meow purr And what's that?
Norway is a perfect example that strong Social Welfare isn’t necessarily communist , like Sean Hanitty on Fox News often talks about.
I lived in one of the last five remaining communist states for eight years. There's absolutely no welfare system. If you don't work, you starve, unless you have family support. No universal healthcare either.
Exactly!🥂😉 As an American I absolutely agree. The republican government is pure evil greed!
@meow purr it's true that norway can't be replicated unless there are a lot of mountains in a area around the same hight
Social welfare only work until the guy who have all the money runs out of money. And if they're being taxed high continously, they'll move away. Ask californian how taxation works out for them.
@@jackbayu555 that’s not how it works. Social welfare is like more like you are a group of fishermen on a boat. Every morning everyone pitches in to make a net on the side of the boat to prevent anyone from falling off and drowning. Then they go about the rest of their day. Social welfare isn’t upheld by the rich. It’s upheld by everyone with the idea being that it’s their for everyone and any one as a safety net. Can’t work cause you have COVID ? Lost your job because your company moved off shore ? This is then where welfare kicks in and keeps you afloat till you can contribute again. The system is incredibly stable because it make the same bet insurance companies do. Most people won’t need it. And most of those that do will eventually work their way free of needing it and support others as well. Also sure the taxes on the rich are high in nations like Norway and Germany. But for that you get to live in a safe,beautiful nation, with quality care, high standards of living, good infrastructure etc. you could live like a king if you moved today to Haiti but you don’t. Why ? Because it’s way to dangerous and doesn’t provide the amenities you want. Yes nations with welfare
Have to levy higher taxes on their people but those people are fine with it because In return you get so much more. No German has to worry about being able to pay medical bills,college debt, or retirement. When they have a newborn they can actually stay home with them the first few months and recover and come back to their jobs and slip right back in. They have better and longer garauteed vacations. And all every German pays for the welfare is about 25 percent of their paycheck. Now go ahead and tell me you don’t want that. I know if I had the choice I would choose Norway or Germany any day over the USA