Uploaded June 2025 | Updated September 2026, 2 days ago
Taking a look at the world's richest countries - they basically all fit into one of three categories: tax havens, financial capitals or oil autocracies.
And then… there’s Norway.
This tiny Nordic nation spends more on welfare than almost any other country on Earth—nearly twice as much per person as the UK, Spain or Japan.
It is famous for high taxes - 41 of every 100 Krone earned goes straight to the Government.
But despite this sizable tax burden, the country is extremely rich.
The average Norwegian earns more than $87,000 a year - that's the fourth highest in the world.
Today, Norway is hailed as the gold standard of democratic socialism.
The “Nordic Model” is held up as proof that big government and high taxes can work.
But it wasn’t always like this…
TIMESTAMPS:
00:00 - Start
00:45 - How accurate is the socialist idea of Norway?
01:45 - Post war Norway
02:19 - Decline
04:20 - Capitalist reforms
06:08 - Norwegian tax system
08:17 - The Sovereign Wealth Fund
10:51 - The myth of Norwegian socialism
12:36 - End
Taking a look at the world's richest countries - they basically all fit into one of three categories: tax havens, financial capitals or oil autocracies.
And then… there’s Norway.
This tiny Nordic nation spends more on welfare than almost any other country on Earth—nearly twice as much per person as the UK, Spain or Japan.
It is famous for high taxes - 41 of every 100 Krone earned goes straight to the Government.
But despite this sizable tax burden, the country is extremely rich.
The average Norwegian earns more than $87,000 a year - that's the fourth highest in the world.
Today, Norway is hailed as the gold standard of democratic socialism.
The “Nordic Model” is held up as proof that big government and high taxes can work.
But it wasn’t always like this…
TIMESTAMPS:
00:00 - Start
00:45 - How accurate is the socialist idea of Norway?
01:45 - Post war Norway
02:19 - Decline
04:20 - Capitalist reforms
06:08 - Norwegian tax system
08:17 - The Sovereign Wealth Fund
10:51 - The myth of Norwegian socialism
12:36 - End
