SEE! something other than free market capitalism DOES work!

Discussion in 'Economy' started by Life_Long_Dem!, May 18, 2009.

  1. Life_Long_Dem!
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    Life_Long_Dem! Member

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    OSLO - When capitalism seemed on the verge of collapse last fall, Kristin Halvorsen, Norway’s Socialist finance minister and a longtime free market skeptic, did more than crow.

    As investors the world over sold in a panic, she bucked the tide, authorizing Norway’s $300 billion sovereign wealth fund to ramp up its stock buying program by $60 billion — or about 23 percent of Norway ’s economic output.

    “The timing was not that bad,” Ms. Halvorsen said, smiling with satisfaction over the broad worldwide market rally that began in early March.

    The global financial crisis has brought low the economies of just about every country on earth. But not Norway.

    With a quirky contrariness as deeply etched in the national character as the fjords carved into its rugged landscape, Norway has thrived by going its own way. When others splurged, it saved. When others sought to limit the role of government, Norway strengthened its cradle-to-grave welfare state.

    And in the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.

    NYT: Thriving Norway’s economics lesson - The New York Times- msnbc.com
     
  2. Xenophon
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    Xenophon Gone and forgotten

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  3. Life_Long_Dem!
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    inferior sysyem...yet they are the ONLY nation not feeling the effects of the crisis and have a surplus and are debt free...OK whatever you say!:cuckoo:

    And in the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.
     
    Last edited: May 18, 2009
  4. Toro
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    A third of all spending in the US is government spending, and there are something like 500% more regulations on the books than there were 40 years ago.

    So this idea that America is an unregulated bastion of free market capitalism is more than a little exaggeration. In truth, all economies are mixed economies. The only difference is degree.
     
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  5. Pyrite
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    Actually, Norway's per capita GDP, $95,062 is a bit more than twice ours, at 46,859. GDP taken as a whole is not representative, as Norway is home to only four and a half million people, as opposed to our 300 million.
     
  6. neurosport
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    yeah but those cocksuckers have OIL. and they only need to split it 4 million ways. we have nothing and we have to split this nothing 300 million ways ...

    of course they have a welfare state - it's not like you have to work for oil - its just there.

    of course in America some cocksucker would bribe the government to privatize the oil and nobody but his fat ass would ever see a penny.
     
    Last edited: May 18, 2009
  7. Pyrite
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    They're ahead of Saudi Arabia, whose per capita GDP is only $23,834, almost half ours.

    But maybe they really have THAT much more oil than Saudi arabia. I'm not an expert on oil reserves.
     
  8. neurosport
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    Saudi Arabia and Norway have roughly the same GDP.

    and just because SA has bigger RESERVES doesn't mean Norway can't pump oil at same RATE.

    I am not saying that Norway, like SA actually DEPENDS on OIL revenues but it is certainly a boost. It's not fair to compare Norway to US.

    I don't see US as competing against Norway. I see US as competing against Japan and Germany.

    not much changed since WW2 heh ?
     
  9. Agnapostate
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    Considering that free market capitalism is a nonexistent and utopian fantasy, it would be exceedingly more difficult to identify instances of its own functioning.
     
  10. sealybobo
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    I heard about this on Air America. When their economy slipped, they offered even more cradle to grave benefits.

    So if you lost your job, you didn't have to worry about healthcare.

    And school is free so no biggy if you have to go back and get retrained.
     

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