- By Annie LowreyAnnie Lowrey is assistant editor at FP.
Just a week ago, the Gray Lady published a story rhapsodizing about Norway’s fiscal responsibility. An oil exporter, Norway saved (saved!) its surpluses, giving it deep reserves today. And yesterday, it published a story explaining that Norway too has dipped into a recession.
Gawker’s headline: “Norway, which proved last week that socialism beats recessions, is now in a recession.”
The Atlantic, piling on, with the subtle headline “The New York Times Knows a Lot about Norway”: “Don’t papers have an obligation to treat their subjects with consistency? I know a lot can change in week, but still!”
I get the tweaking; the NYT story was fairly fawning, and they might have waited for the latest numbers.
But still, the coverage seems fair. Norway’s entered a far gentler recession far later than its peers. It still has a budget surplus — meaning its stimulus spending isn’t sending it into debt. Its unemployment numbers remain enviable. It’s in a recession, but has avoided the wreckage of its peers.
So, go on, Norway. Sometimes least-bad is best.
Photo: Ragnar Singsaas/Getty Images