Jonathon Moses, International Society Lecturer, Norwegian University of Science and Technology, Trondheim
Sponsored by the Center for West European Studies & Arrestad Endowment for Scandinavian Studies
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This talk will describe the nature of Norwegian economic management in the 21st century, in light of the constraints imposed by the international community and an oil-driven domestic economy. Unable to steer the domestic economy, as they did in the previous century, the Norwegian authorities now conduct economic policy with an eye on limiting excess demand and inflation: fiscal and monetary policies are kept under tight reign, and immigrant labor is used to fuel economic growth (to avoid wage-driven inflation). On securing this austere context, the state then acts as a savvy investor in both national and international markets. The yields from these investments are used to finance a vibrant public sector. While this policy mix produces a prosperous, livable polity, it is quite distant from the social democratic designs of the 19th and 20th centuries.