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Can a country get too rich?
Norway shows the potential pitfalls of uncommon prosperity.
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Norwegian oil has built an economy that is the envy of other rich countries, not to mention poor ones.
PHOTO: REUTERS
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The Economist
Norway’s tribute to Edvard Munch, Scandinavia’s most famous painter, is an impressive 13-storey slab of recycled aluminium and glass built on the harbour front in Oslo.
Completed in 2021 at a cost of US$350 million (S$450 million), it was even more impressively late (by a decade) and over budget (by a scream-worthy US$200 million). Looming above thick mist blanketing the sea on a winter’s afternoon, the museum encapsulates the country that paid for it: sophisticated and so loaded that money is no object.
