Did the Perfect Economy Just Get Better?

Summary by Krater

An economic analysis of Norway, examining how the country manages its vast wealth from oil and natural gas, its recent massive phosphate discovery, high taxes, and sovereign wealth fund to maintain economic stability and high living standards.

From the video

Answers: How does Norway manage its economy and natural resources to achieve high GDP per capita and stability?

• Norwegian economy
• Oil and gas industry in Norway
• Phosphate rock discovery in Norway
• Sovereign wealth fund
• Taxation in Norway
• GDP and economic growth
• Big Mac index and living standards

What it concludes

• Norway discovered the world's largest supply of phosphate rock, estimated at 77 billion tons.
• Norway's sovereign wealth fund, the Government Pension Fund Global, has grown to over 1.6 trillion US dollars.
• Norway has the second highest GDP per capita in the world at 106,149 US dollars.
• Norway maintains high tax rates, including a 25% VAT and progressive income taxes, to fund public services and reduce inequality.
• Norway's cultural adherence to the Law of Jante prevents extreme wealth flaunting and reduces pressure on the government to appease the wealthy.