Norway’s economy has been resilient in the face of global recession. Buoyed by oil revenues (Norway is the world’s third largest oil exporter) and frugal investing of oil profits, the country has saved its commodity windfall and formed a stable $300 Billion sovereign wealth fund. The country’s GDP per person is $52,000, second only to Luxembourg amoung industrialized economies. Even Norway’s banks have continued to propser with careful lending practices and what Landon Thomas Jr. says is “smart” financial regulation. Norway grew last year at a rate of nearly 3% and maintains a healthy budget surplus euqal to 11% of its GDP. Does Norway mean state-run capitalism (essentially Euro-style socialism) can work??? Or is its healthy economy just the product of fortunate natural resources in the form of black gold?