Norway is good example how to manage wealth

[Lucius]

I have always heard great things about Norway, which seems like a great place. I remember it being on top of the Charts. People are happy and have made a lot of progress in terms of economics. Reading everything posted here makes it seem like a great place, and I hope every country can follow suit.

Things are great if you look only from a financial perspective, but people who fantasize about Norway as some kind of promised land should know that it is a specific society that is not easy to get into, with a climate that drives many foreigners out of the country within 1-2 years. For a long time, Norway was on the list of countries with a high rate of suicides, which many associated with a high rate of depression due to very long polar winters when there is actually no sun, but the polar night lasts.

Financially, the country is doing well thanks to its natural resources, low corruption rate and apparently honest and capable politicians - but there are few countries in the world where politicians work for the people and not for their personal interests. Norway is one of the exceptions, but life in that country is far from perfect. For those who are interested in more ->

The Downsides of Living in Norway

[LoyceV]

Things are great if you look only from a financial perspective, but people who fantasize about Norway as some kind of promised land should know that it is a specific society that is not easy to get into

That's what makes Norway so great: they look after their own interests. Norway's sovereign wealth fund is not meant for immigrants, it's meant for Norwegian citizens.

And there is of course living in Svalbard, where you don't need a Visa, but you'll have to leave once you run out of money. I must say I like the concept.

[Yaunfitda]

Another countries should make also the funds and get the people to manage wealth of others who knows how to make money from money to manage wealth of the people.

Norway is an interesting case study. They don't have that much going on but what they do have going on. Their leaderships have manage it superbly and they always their people first compared to many countries who either spend lavishly or all lost due to corruption. However, I'm a bit surprised they didn't lower their tax rate gradually since it's so high. Despite this, I would say that Norway won the oil lottery. 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.

Yeah, I think this was the case for them, during world war, or after, post-war and the political changes that was sweeping Europe that time, Norway stood it's ground and the people running the government really knows what to do.

And so they become totally independent and they have a lot of policies that prioritized their people so that their economy will keep going. And with that, they totally re-created everything and in the last 50 years, they really make a big changes and now becoming one of the wealthiest or at least many people wanted to live their because it's rich country and also very quiet.

[bitgolden]

Norway is an interesting case study. They don't have that much going on but what they do have going on. Their leaderships have manage it superbly and they always their people first compared to many countries who either spend lavishly or all lost due to corruption. However, I'm a bit surprised they didn't lower their tax rate gradually since it's so high. Despite this, I would say that Norway won the oil lottery. 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.

Yeah, I think this was the case for them, during world war, or after, post-war and the political changes that was sweeping Europe that time, Norway stood it's ground and the people running the government really knows what to do.

And so they become totally independent and they have a lot of policies that prioritized their people so that their economy will keep going. And with that, they totally re-created everything and in the last 50 years, they really make a big changes and now becoming one of the wealthiest or at least many people wanted to live their because it's rich country and also very quiet.

Also they actually did elected people who would do the best help for the government, and not the most popular person who says what they want to hear. That is the type of situation politics in everywhere else, in fact in most cases people are voting for people they dislike, because other side have people they hate, so it's clear that Norway and many other Scandinavian countries are shown as good examples of why they are run very well, its because if you are just a popular moron who lies all the way to election, people will just not vote for you.

Many politicians who are presidents right now, would not go beyond 1-5% range in Norway, because Norway only cares about development and actual action. Many people in politics grow from smaller positions, and do something good with their small position to get to a higher position, if they suck and corrupt then they don't win anymore.

If you keep that simple fact in mind, then you are going to end up with something quite good, and get a greater result in the end. I believe that Norway has done that, they realized that if they do the right thing and just run the nation good and well, they can keep their job and even improve, so politicians try to help as much as they can.

[Lucius]

Things are great if you look only from a financial perspective, but people who fantasize about Norway as some kind of promised land should know that it is a specific society that is not easy to get into

That's what makes Norway so great: they look after their own interests. Norway's sovereign wealth fund is not meant for immigrants, it's meant for Norwegian citizens.

Their voters have already refused to be part of the EU twice in the referendum, and research from a few years ago shows that over 70% of people in that country are still against it. When you look at what is happening in Sweden, it is clear that the Norwegians made the right move - they are not members of the EU, so they do not have to fulfill anything that is against their national interests, and at the same time they are members of the EEA (European Economic Area).

And there is of course living in Svalbard, where you don't need a Visa, but you'll have to leave once you run out of money. I must say I like the concept.

I didn't know about the concept, but it makes sense if things are set up that way - I guess it makes sure people behave responsibly. I did a little research about Svalbard (I haven't watched the video yet - it doesn't work on Tor), but as far as I can see, the polar night lasts for 4 months, children can't be born there, the mothers go to Norway, there are also no cemeteries - and it's forbidden to keep cats. Longyearbyen as the capital has about 2000 inhabitants, and they say that there are about 3000 polar bears on the island - not for those who don't like wildlife