Norway’s long stint as world’s equality utopia comes to a crashing end as inequality soars.

Pictured above: Erna Solberg, Norway’s Prime Minister. 
Arguably the world’s most envious nation, Norway, has witnessed it’s largest ever surge in inequality, the Washington Post reports.

The OECD has published findings detailing that Norway is now among countries such as New Zealand, Mexico, the UK, the United States and Japan in depleting economic growth due to surging levels of inequality

Britain, Finland and Norway: These countries missed out on nearly 9 percentage points of economic growth. While Britain is among the OECD’s most unequal countries, Finland and Norway had low inequality levels in 1990 and continued to do so in 2010. Nevertheless, inequality increased in both Scandinavian countries (and particularly in Finland).” The Washington post reported.

Norway, the country which recently changed government in 2013, is currently ruled by two main political parties known as the Conservative Party and the Progress Party. The Conservatives, a centre-right a party, are led by Prime Minister Erna Solberg who lead the way in the establishment of the minimum wage. The Progress Party, meanwhile, emerges from the radical right. Far-right terrorist Hans Breivik was a former paying member, and the party has in the past spoken to foreign media on it’s desires to end the public health system.

Under previous governments Norway has been the envy of the world. Often being coined the ‘happiest nation’ with the ‘highest living standards on earth’ and lowest levels of elder, disabled and child poverty, Norway, for the majority of it’s history, has been governed by The Labour Party which also bragged zero national debt. Liberal conservative countries such as the United Kingdom emerged from the same economic crisis with a soaring debt and still operates on a $96b deficit every quarter.

The abolishement of the minimum wage in Norway garnered very little press outside of country but had had devastating affects on the lives of workers.

Read more about how inequality hurts a country’s growth here: http://www.washingtonpost.com/blogs/worldviews/wp/2015/01/05/how-inequality-made-these-western-countries-poorer/

Advertisements

One thought on “Norway’s long stint as world’s equality utopia comes to a crashing end as inequality soars.

  1. The economics adopted in the 80’s had been debunked back in the 30’s.The obsession with running budget surpluses was shown to be economic ignorance. A govt. is not like a household.The govt. issues the currency,households and firms have to obtain it through paid work.A govt. cannot run out of its own money.It cannot become insolvent by running deficits in its own currency.It does not need to issue debt to match its deficit.The govt. has to spend first before it can collect taxes.Your taxes don’t go anywhere.The purpose of taxation is to create unemployment,to control aggregate demand,and to provide the govt room to spend in way that doesn’t create inflation.So unemployment occurs when the govt. fails to spend enough into the economy to cover its tax liabilities it imposes and any desire of the non govt. sector to save those financial assets that are created by the tax and other govt. policy.Said another way unemployment is evid ence of over taxation.Motivation not withstanding govts in n z since the 80’s have been aggressively promoting policy that creates and sustains inequality.The term is austerity.It promotes what the elites what.It has always been a bad idea that that cames out of the Calvinist theology.Austeriy is also a necessary policy for the conduct of war.The deception, propoganda ,that took place in the 70’s still exists today.Ask anyone from that era and still considers themselves a progressive!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s