Wednesday, 25 August 2010

"I'm gonna spend, spend, spend" Viv Nicholson 1961

Yet another of those things that's just common sense as far as I'm concerned. When a country has a windfall as we have with oil over the last 30 years, you don't just spend, spend, spend like Viv Nicholson did (as those over a certain age should remember)!

You don't spend it all, you invest some of it. Norway did. We didn't. Norway will benefit from that oil for generations to come. We won't. And if I'm not convincing enough for you listen to Joseph Stiglitz an economist so well respected that he won a nobel prize. Surely he would know ...

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