- Sweden, a Scandinavian country which LACKS oil, boasts an economic growth of 16% over the last four years, while the US, a nation which HAS A LOT OF OIL grew by only 13% during the same period.
- Libya, the richest country in Africa, has a population about the size of Norway’s, is located nearly as close as Norway is to the giant EU market and dispose of even LARGER oil reserves than Norway does. STILL, the (nominal) GDP/capita of Norway is almost NINE times that of Libya!
For an extended argument of mine on this topic;
http://www.freerepublic.com/focus/f-news/1864973/posts
(My initial comment to another Aftenposten article on the fact that Norway can claim the most dollar millionaires per capita in the world)
So, is Scandinavian Socialism better than American Capitalism? No way, but Scandinavian engagement in education, global competition, investment, research, technology, the creation of business friendly environments and not the least cooperation between government, the business sector, unions and universities
sure have paid off.
Scandinavia is evidence Capitalism works, even when consumers/voters choose to finance a large portion of their consumption of education, health care, child care etc through paying very high sales taxes (in fact income taxes are not that extreme in Scandinavia and corporate taxes are comparatively low, way lower than in the US) - fiscal policies no one have forced upon them, but policies they have voted for themselves in democratic elections.
However, US Americans should not pay attentions to Europeans and American Liberals/Socialism who claim the US should adopt Scandinavian welfare solutions. The US will never become like Scandinavia (or vice versa) out of cultural and historical reasons. We can learn from each other, but countries also need to remain true to their core national values (like the fruitful tradition of ‘small government’ in US history).
What all Americans and Europeans could learn from Scandinavia is that a nation that truly focuses on creating successful, Capitalist corporations and spend a lot of money on the education of their workforce increases its competitiveness in todays globalized world.
Are they spending on defense? What happens when Ivan decides he wants their oil?
LLS
Without oil revenues, their socialistic social policies will eat their economy alive. With the revenues, they just pay more for some consumer goods than most other countries.
Believe me, their national healthcare system is not any better than Britain’s.
Privatize education, emphasize the sciences and problem solving over "self-esteem." This will compliment the great American tradition of rugged individualism over the therapeutic State that has reigned supreme since the end of WWII.