In Singapore, the state owns 90 percent of the land and over 80 percent of the homes while posting high levels of income and growth. And no, this is not just about its oil: high levels of state ownership prevailed even before the oil fund began in 1996.Īs noted last week, I think Singapore also proves this point. So to the extent that a country is a relevant economic unit and Norwegians own 76% of their non-home wealth collectively through a democratically-elected state, it would be fair, I think, to describe it as the most socialist country in the developed world.īut regardless of what label you apply to it, Norway at minimum proves that it is possible to mix high levels of state ownership with a high degree of prosperity. The one thing almost all strands have in common is the idea that collective ownership of capital within a relevant economic unit is a key socialist principle. mutualists), others think product prices are problematic (i.e decommodifiers), and still others think both are problematic and that society should be organized into small units that consume what they produce directly (e.g. Some think wages and salaries are problematic (e.g. syndicalists), and still others society-wide ownership (i.e. Ok the cloak is worth 500gd, but worth a 1000gd towards character wealth, then make the non claimed items - say they want to buy a wand of cure light wounds raise the price by 50. cooperatives), others industry-level worker ownership (i.e. Or you could let him have his way and just raise the prices of all the magic items not in their possession. Some emphasize firm-level worker ownership (i.e.
#Wealth by level 3.5 how to
The socialist umbrella contains within it diverse viewpoints about what socialism is, what its core elements are, and how to achieve it. If you assume that mortgage debt as a percent of housing assets remained steady over the last few decades, you can also get an estimate of this same figure going back in time. From there, you can go into the same national accounts that produced the first graph above, then subtract all home equity out of the denominator and arrive at an estimate for the percent of non-home wealth owned by the Norwegian state. By multiplying that average by 82 percent of the number of households, you can get an aggregate mortgage debt figure. Nonetheless, when I contacted Statistics Norway, they indicated that a rough estimate for total mortgage debt could be calculated using a survey that publishes the average remaining mortgage debt of homeowners. But they do not provide an accounting of total mortgage debt.
The Norwegian national accounts provide an accounting of total household dwelling assets. So that raises the question: how much of the non-home wealth does the Norwegian state own? And when home ownership is close to universal, even the egalitarian case against it starts to wither. And while owner-occupied housing obviously is wealth of a sort, it is somewhat different from the means of production in some important respects. This must mean that a large chunk of the private wealth is housing. Overall 82 percent of people over the age of 16 live in a house they own. Norway has one of the highest homeownership rates in the world. Ever since I published the post, one thing has nagged me about this statistic.
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