Norwegian Socialist Party leader and Finance Minister Kristin Halvorsen reacts to the global financial crisis:
“As a socialist, I have always said that the market can’t regulate itself,” she said. “But even I was surprised how strong the failure was.”
Norway combines Northern European-style good governance with substantial oil reserves, so they’re currently sitting pretty with three percent growth and a budget surplus. Most countries couldn’t accomplish that, just lacking Norwegian-style natural resource wealth, but it’s interesting how rare it is for a resource-rich country to take advantage of the situation properly.
Note that when Halvorsen says she’s a socialist, that doesn’t just mean she’s a regular old progressive politician. Her party, the Socialist Left Party, was formed as more left-wing alternative to Norway’s Labor Party. Currently Labor, the Socialists, and the Center Party in a broad left/center-left coalition.
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