Originally Posted by rv7charlie
If you follow the news about the effects, *many* more domestic jobs are lost due to tariffs than are gained. I'm afraid to quote actual numbers from memory, but the ratio was something in excess of 5-1; for every steel worker job gained, there were 5+ jobs lost in mfg fields, and ripple effect downstream losses.
Countries like Norway have a *lot* of things about them that are positive, and drive that high standard of living. Unfortunately, most of those things are unpalatable to people who believe a policy is good just because someone that they like says it's good. :-)
You really can't condense economics down to bumper stickers.
(no Holiday Inns lately, but an economics degree in my distant past...)
Norway's "good thing" is what it controls under the ground (or North Sea). From the EU web site -
Norway is in the global top 5 exporters of crude oil. The oil and gas sector constitutes around 22% of Norwegian GDP and 67% of Norwegian exports. Norway is Western Europe's most important source of natural gas.
They can do all of the stuff and standard of living because of "drill baby, drill"