How to beat the resource curse in Norway (Summer School)
Summary
Host Robert Smith and guest professor Hilda Bjornlund explore how Norway avoided the "resource curse" by managing its oil wealth through restraint and a sovereign wealth fund. They also examine how the government coordinated to create a global market for raw salmon in Japan, overcoming cultural barriers. The episode highlights lessons on social trust, strategic branding, and long-term economic planning.
Topics discussed
Introduction to Planet Money Summer School
Norway's economic challenges and wealth tax debate
Sponsors: Raymond James and Amazon Health AI
The resource curse and Farouk Al-Qasim's discovery
Norway's strategy to avoid Dutch disease
The growth of the Norwegian Oil Fund
Building domestic industry and electric car incentives
Sponsors: Raymond James, Amazon Health, Mint Mobile
The 'Sushi Curse': Norway's salmon surplus
Marketing raw salmon to Japan
Salmon sushi becomes popular in Japan
Lessons on collective action and soft power
Final lessons on social trust and resource management
Outro and sponsor messages
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