Quote:So anyone explain why Norway who kept the oil in hands of the state and has a huge wealth fund and great standard of living is doing so bad.


All I've heard is how evil socialism can be...

 

It puts a cap on what people can accomplish, therefore hurting motivation to work harder to make more.  Also, socialism doesn't eliminate "elites" running the world, it simply reduces the amount of them (those in charge of government) and makes it only possible to become an elite if you're born into it.

 

Many other European countries like Greece have not done well under socialist ideals.  Scandinavia does seem like a nice place to live but it's kind of an outlier.  

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