An awesome video, the Norwegians had a Labour government which kept its high taxes while investing its oil wealth, but Britain spent all its oil wealth on tax cuts (and it doesn't say here, but also on large dole queues as Thatcher destroyed British industry putting millions out of work).Britain's GDP did grow for a while, but tanked when the oil money run out, while Norway's economy prospered under socialism and grew steadily rich. Today, Norway is one of the richest counties in the world, while most of Britain, except for London and the South, is one of the poorest countries in Northern Europe. [embedded content]
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Jeremy Smith writes UK workers’ pay over 6 years – just about keeping up with inflation (but one sector does much better…)
Robert Vienneau writes The Emergence of Triple Switching and the Rarity of Reswitching Explained
Lars Pålsson Syll writes Schuldenbremse bye bye
Robert Skidelsky writes Lord Skidelsky to ask His Majesty’s Government what is their policy with regard to the Ukraine war following the new policy of the government of the United States of America.
Britain's GDP did grow for a while, but tanked when the oil money run out, while Norway's economy prospered under socialism and grew steadily rich. Today, Norway is one of the richest counties in the world, while most of Britain, except for London and the South, is one of the poorest countries in Northern Europe.