Reply #33: Norway:

[BayCityProgressive]

Norway possesses the second highest GDP per-capita and second highest PPP per-capita in the world, and the highest position in the World on the UNDP Human Development Index (HDI) for the fifth consecutive year. The Norwegian economy has a combination of free market activity and government intervention. The government controls key areas, such as the vital petroleum sector, segments of telecommunications, the airline industry, health insurance, hospitals, banking and the electricity production. The control mechanisms over the petroleum resources is a combination of state ownership in major operators in the Norwegian fields (Statoil approx. 70% in 2005, Norsk Hydro 43% in 2004) while specific taxes on oil-profits for all operators are set to 78%, finally the government controls licensing of exploration and production of fields. The country is richly endowed with natural resources: petroleum, hydropower, fish, forests, and minerals. Norway has obtained one of the highest standards of living in the world, partly from petroleum production. Norway also has a very high employment ratio.