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Re:Unlike most millennials, Norway's are rich by oblio on Saturday July 14, 2018 @05:22AM (#17529540)
Norway was rich on a global scale before oil.
Re:Unlike most millennials, Norway's are rich by maxxxxx on Saturday July 14, 2018 @05:48AM (#17529627)
I think their oil is the one factor that makes them special in Europe. And the fact that they used the oil to benefit the country and not just a few small groups.
Re:Unlike most millennials, Norway's are rich by adventured on Saturday July 14, 2018 @11:57AM (#17530819)
Norway's oil boom began in the mid 1980s. In 1973 they essentially had zero oil production.

In the span of seven or eight years from the moment oil production began, their economy tripled in size (from 1973 to 1981). Oil caused that economic miracle.

Norway GDP per capita in 1973, pre oil, was $5,600 or so. Sweden was $7,200. Denmark was $6,100. Finland was $4,200.

Norway's GDP per capita in 1984 as the oil boom was underway was $15,000. Sweden was $13,000. Denmark was $11,500. Finland was near $11,000. Keep in mind these other three are among the best run couple dozen nations on earth.

Today: Norway $75,000; Denmark $56,000; Sweden $53,000; Finland $46,000.

Now show me the extraordinary products that Norway is creating and selling to the world, to generate that stunning $75,000 figure, as opposed to Sweden's remarkable economy that has boomed for a long time and is still lagging far behind Norway.

Norway's GDP per capita went from $38,000 in 2001 with cheap oil prices, to $97,000 by the end of 2008, due to the oil boom. It's very obvious that Norway owes its particular outlier performance to oil.

Re:Unlike most millennials, Norway's are rich by jeffreyrogers on Saturday July 14, 2018 @10:30AM (#17530474)
But they are even better off than Denmark and Sweden which have very similar populations/political models. Their oil wealth has certainly helped them (but they've done a good job of spreading the benefits of their oil wealth across society, unlike many other countries).
Re:Unlike most millennials, Norway's are rich by yesforwhat on Saturday July 14, 2018 @06:56AM (#17529792)
Not by European standards
Re:Unlike most millennials, Norway's are rich by oblio on Saturday July 14, 2018 @01:37PM (#17531324)
Careful with that statement, you forgot Europe also has Eastern Europe :)