Planet Money · Wednesday, July 29, 2026
Norway has become a richer country per person than the United States due to effective management of its oil wealth. Professor Hilda Bjornland notes that while Norway excels in social welfare, it lags in entrepreneurship, productivity, and adopting new technologies like AI. She suggests that Norway's wealth tax might hinder investment in these areas.
“Norway has won the economic lottery, and it's managed those riches better than just about any country on earth.”
“So in that sense, we are safe and sound with a lot of richness and social welfare, but maybe we are not the leaders in inventing things at the moment.”
“So it has been suggested to reduce it and it's being discussed at the moment. But for now, it's clearly not working in the favor of new investment.”