In Norway, the economy is highly developed with some state-ownership in strategic areas. Since the start of the industrial era, the Norwegian economy has grown steadily and citizens enjoy a high standard of living and a robust integrated welfare system. Norway's modern manufacturing and welfare system rely on a financial reserve produced by exploitation of natural resources, particularly North Sea oil. According to United Nations data for 2018, Norway together with Luxembourg, and Switzerland are the only three countries in the world with a GDP per capita above US$70,000 that are neither island nations nor micro states.
With a population of 5.4 million, Norway is today one of the wealthiest nations in the world, both measured as GDP per capita and in capital stock. According to the United Nations Human Development Index, Norway ranks in the top three.
But it has not always been this way.
Norway was in many ways a poor nation, both before and after WWII. After the war, Norway received USD 450 million in Marshall support (probably close to USD 6 billion dollars in today's value).
This enormous help was the USA's way of Shaping the Odds for Europe.
But overall, access to huge stocks of natural resources combined with a skilled labor force and the adoption of new technology made Norway a prosperous country during the nineteenth and twentieth century.
We will present some examples of how Norway has been, and today is, Shaping the Odds for the country and its citizens.
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