No county is better than Norway to manage its economy, claim 12 Nobel Prize winners in economy.
The Norwegian Minister of Finance Per-Kristian Foss is pleased to say the least.
Norway has received much praise for the management of its oil fortune through the years, and Norway has now been selected as the best country to manage the economy in a survey conducted by the Wall Street Journal.
A total of 12 of the 32 living Nobel Prize winners in economy were asked what country in the world had the best economic policy. Norway scored highest, closely followed by the US and China, reported the Norwegian paper VG.
«They have oil, and they use the yield reasonably,» concluded Clive Granger, Nobel Prize winner in economy in 2003.
Foss and his colleagues in the Ministry of Finance often receive visits from foreigners who want to study the management of the Norwegian oil money. Foss stated that other countries have gotten themselves in serious economic trouble after putting too much oil money in the economy, while Norway has managed to somewhat restrict the use of the oil revenue.
«The temptation is to use too much oil money so that we destroy for all other industries,» Foss said, who added that he was very pleased by the statements from the Nobel Prize winners. «There is good reason to be pleased when a small country like Norway gets such a great mention.»
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