A Tale of Two Countries: How Norway Embraces Markets While Venezuela Does Not

September 10, 2020 | by Jorge Jraissati

When people quickly compare the Norwegian and Venezuelan economies, they tend to see the one trait they have in common: a big public sector. However, when we study these countries in depth, it becomes evident that the two follow opposite economic principles. While Norway’s economy is among the freest in the world, Venezuela has become a prime example of what a socialist economy looks like.