Among the evidence for Norway being the MOSCOW, often cited these days is a statistic showing the government of Norway owns 59 percent of the country's wealth.
To calculate what percent of a country's national wealth is state-owned, Picketty divided net public wealth by market value national wealth.
As economist Dan Mitchell pointed out last month, the Norwegian government's share of national wealth is artificially high due to its ownership of the country's energy sector and $1 trillion sovereign wealth fund, which invests in companies like Microsoft and Apple.
As the very same WIR report the Bruenigs drew their data from states, the Norwegian public wealth fund protects the country against fluctuations in oil prices: "Norwegian public property has therefore largely been accumulated for fiscal and financial purposes." The study also noted that "Norway's large positive net public wealth generates capital income that is mostly used to finance further foreign capital accumulation, which in the long-run can be used to reduce taxes and to finance more public spending."
A simple comparison of Norway's national wealth before and after 1996 reveals the role of the SWF in driving the state's ownership of wealth.
Lastly, more than 90 percent of Scandinavia's combined wealth is privately owned.
To get a better sense of just how socialist Scandinavia is according to the Bruenig standard, I divided the combined net public wealth of Norway, Sweden, Finland, and Denmark by the aggregate market value net national wealth of the four, resulting in 9.6 percent of Scandinavia's wealth under government ownership, meaning that a little over 90 percent is in private hands.
http://thefederalist.com/2018/08/17/debunking-socialist-myths-90-percent-scandinavias-wealth-privately-owned/
To calculate what percent of a country's national wealth is state-owned, Picketty divided net public wealth by market value national wealth.
As economist Dan Mitchell pointed out last month, the Norwegian government's share of national wealth is artificially high due to its ownership of the country's energy sector and $1 trillion sovereign wealth fund, which invests in companies like Microsoft and Apple.
As the very same WIR report the Bruenigs drew their data from states, the Norwegian public wealth fund protects the country against fluctuations in oil prices: "Norwegian public property has therefore largely been accumulated for fiscal and financial purposes." The study also noted that "Norway's large positive net public wealth generates capital income that is mostly used to finance further foreign capital accumulation, which in the long-run can be used to reduce taxes and to finance more public spending."
A simple comparison of Norway's national wealth before and after 1996 reveals the role of the SWF in driving the state's ownership of wealth.
Lastly, more than 90 percent of Scandinavia's combined wealth is privately owned.
To get a better sense of just how socialist Scandinavia is according to the Bruenig standard, I divided the combined net public wealth of Norway, Sweden, Finland, and Denmark by the aggregate market value net national wealth of the four, resulting in 9.6 percent of Scandinavia's wealth under government ownership, meaning that a little over 90 percent is in private hands.
http://thefederalist.com/2018/08/17/debunking-socialist-myths-90-percent-scandinavias-wealth-privately-owned/
No comments:
Post a Comment