The Nobel Economist: Dress yourself in Orange... to be like the Netherlands!!!

Dress yourself in Orange... to be like the Netherlands!!!

Countries look up to other countries for examples, or for role-models. The big disadvantage of being number 1 in the HDI Index is not to have someone to look up to. And since things change, and times change, if you don't keep yourself updated at some point you are going down in the ranking without even noticing it. So, much has happened in the World in the last 10 years. I mentioned before stagnation and lack of growth in the Euro Region. A context of stagnation has it so that younger people, foreigners and their children struggle in the job market. Good and solid welfare systems help tamper the situation, but only true raw entrepreneurship is the solution to the rising social tensions that come from the Rise of Inequality (check out my Release in Amazon: "Revolution 4.0 and the Man of Tomorrow: Post-industrialism, Inequality and the Knowledge Based Economy").

But can countries indiscriminately "choose" other countries as role models? The answer is NO, they don't have the RIGHT to choose. After travelling Europe to study European culture, history and religion, I have concluded that culture or historical processes prevail over government policy. In the mentioned releases, in chapter 19 "Death and Taxes" I explain how different cultures tolerate or not different degrees of Tax Burden. An extreme right government had disastrous results in Argentina in the 1990s, a mainly Southern European country (culturally speaking). Can Norway be like the Netherlands? Maybe... in 20 years. The Dutch Empire, one of my favorites, was a colonial empire famous for it's strong navy, commerce and overseas territories. Quite clearly, born and raised abroad to a Dutch parent is Dutch by blood-right in the Netherlands. But Norway, more isolated geographically speaking and closer to the North Pole, is really more culturally similar to Sweden, Denmark or Iceland (depending on the region).

So becoming like the Netherlands would imply a "liberalization" of the culture. That would mean things like: it would be OK to be gay, to marry a foreign, , there would be many bars, discoteques, good accessible restaurants, we could eat some brownies (space cakes) at restaurants, there would be a Red Zone to... (for å ???). Anyhow, many things that are not happening today. However, there are some similarities industrially speaking. Like the Netherlands, Norway is a Kingdom. Norway has historically been a fishing country, with a strong Shipping Industry. The Netherlands also suffered the "Dutch Disease"[1] in the 1970s, which refers to economies that are based on natural resources which in turn destroy the other local industries due to the high cost of labor (influx of capital to the offshore industry strengthens the currency making exports less competitive). Now that my prediction of a long-term downturn in the Oil markets is confirmed (and being the ONLY person in the WORLD who predicted the Oil Crisis AND found FUNDAMENTAL factors as to WHY the price of oil was going down, but also WHY it was not going back up again), many times people ask me what we will are going to live off in the post-oil era. Remember that oil will still be important, but not as important as today (as explained in my Release "Where No Man Has Gone Before: the Road to the Fourth Industrial Revolution"). Some options do come to mind:

- Shipping Industry: it is clear that the industry already exists and is international, but more focus on global expansion can be made.

- Aviation: Norwegian appears as a relatively new airline with a solid brand with possibilities for global expansion.

- Banking Sector: strong brands like DnBNor could also be exported anywhere. It is clear that banks in Northern Europe are more solid and offer more confidence than anywhere in the world. So the banking sector has tremendous potential for international expansion and creates thousands of jobs.

- IT Sector: as I always mention, and this would be the same for any country, Revolution 4.0 refers to the Knowledge Based Economy. And here Norway is really lagging. In the article "Norway lacks the future's mind power"[2] we are explained about the challenges for entrepreneurs to grow in Norway, and how we do not have enough qualified technological heads to build a proper Tech Industry. In another article we learn how Norway takes the last place in the Start-Up scene in the Nordics (and surely Northern Europe).[3] But this is not an issue. It is still easy to get hold of qualified foreign skilled workers and entrepreneurs. Since Norway is in the European continent, there will always be foreign competence available. So the question is, do we really want to benefit from foreign skilled labor? In the Netherlands they do... This would be the same in most developed countries. Despite efforts from the coordinators, at some point it is the locals who open doors to foreigners, or not. Engineers and people in the Tech field are usually the best well paid and sought after in the job market. But remember that the people IN the Hub, make (or break) the Hub. Do we want them here, or not? If we don't and as the IT sector becomes a larger and larger player in any country's economy, I can only think that technological development will lead to growth and welfare of those who understand it, and more stagnation, isolation and recession for those who don't... Or are not willing to understand that picture of a future dominated by Artificial Intelligence, Robots, Virtual Reality and things you can only read about in an Isaac Asimov sci-fi novel.

If we want to be like the Netherlands the road must be paved today, with a LONG-TERM 20 year perspective. Building channels is the first step, towards a better and more inclusive tomorrow for ALL. A salutation from KING WILL OF THE KINGDOM OF NORWAY, and his Wife Maxima, FROM Argentina!!!