> After growing up watching the benefits of Iraqi oil elude the Iraqi people, a young executive insisted that Norway do things differently.
For initial expansion of industry, I always felt that command and control economy works to an extend. Even the early soviet union was an example of rapid modernisation of an agrarian country to an industrialised one [2]. There are also examples of South Korea and how its government helped make them one of the best in the ship building [3].
To kickstart an industry government involvement is good to keep the pace and for the introduction of interlinked systems necessary for production where none had existed earlier, but there is no question the human cost soviet people had to pay and there is no justification to it. To keep people and companies from becoming complacent, the accountability and the skin-in-the—game feeling that capitalism brings is equally good. Little bit of both is what is good for developing economies and developing industrial sectors but we are still learning on where to draw the line on how much is too much but there is a lot to be learned yet.
[1] : http://www.psmag.com/nature-and-technology/iraqi-vikings-far...
[2] : http://www.voxeu.org/article/stalin-and-soviet-industrialisa...
[3] : http://english.hani.co.kr/arti/english_edition/e_business/72...