MÍMIR&MARSDAL MAGNUM: Martin Bech Holte | Landet som ble for rikt
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Jan 15, 2025 Martin Bech Holte, author of "Landet som ble for rikt," offers a sharp critique of Norway's economic evolution and welfare state. He discusses the country's shift from oil dependence to a need for innovation in non-oil sectors as the oil boom wanes. Holte delves into the complexities of managing oil wealth and its impact on democracy, exploring the urgent call for innovative solutions in public services, especially in elder care. His insights stress the importance of entrepreneurship to bridge wealth disparities and stimulate future growth.
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Televerket Liberalization
- Televerket used to be Norway's sole telephone provider, making it difficult to get new phones or services.
- After liberalization, NetCom emerged as a competitor, halving Televerket's workforce but boosting innovation and consumer well-being.
Productivity's Double-Edged Sword
- Higher productivity allows societies to allocate resources beyond basic needs, like in the Viking age when increased agricultural output led to advancements in other areas.
- However, increased productivity can also lead to some people becoming redundant.
Norway's Private Sector Productivity
- Post-1991, Norway's private sector engaged in a 'productivity dugnad' (collective effort), constantly adapting to competition.
- This generated more value than oil, facilitated by a strong social safety net that allowed for resource shifts.