Comparison between Venezuela and Norway

Category Venezuela Norway
Political System 21st Century Socialism Social Corporatism
Economic Philosophy Class Struggle Class Collaboration
Property Rights Index 0-10 84-90
Makeup of the Economy Highest GDP Companies were Nationalised, Coops, Communal Councils owning 30% of State Funds Average Public Sector (32% GDP), Profit Share on Oil (18% GDP), Large Private Service Sector (40% GDP)
No of State-Owned or Majority Companies 576 (441 during Chavez) 57
Worker-Owned Coops 100,000 (1.5m - 6.6% population) <9000 (?)
Barrels of Oil (2016) 299,953,000,000 5,138,767,000
Population 28.44 million 5.379 million
Barrels per population 10,546 955
Economic Freedom Index (2022) 24.8 76.9
Wealth Inequality Gini-Coefficient (2019) 0.743 0.798
Regulations on Business Extremely High Low
Control Over the Economy Extensive to Full Control Light Touch (High Degree of Trust in Business)
Human Rights/Rule of Law (Fragile State) 9.10 0.50
Human Development Index (2019) 0.711 0.957
Sustainable Development Index 0.696 0.188

Additional Comments:

  • Venezuela has almost limitless welfare polices for Education, Health and Food. One year it gave away 200,000 homes. Between 2003 and 2013, poverty levels fell from 61% of the population to 34%. (addional info)
  • Redistributed 2.7million hecters of land from private owners to 180,000 peasant families.

Additional Resources

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Pub: 29 Mar 2022 22:56 UTC
Edit: 11 Apr 2022 21:37 UTC
Views: 332