Economy
Narvik is a commercial centre for some of the neighbouring municipalities. Narvik University College has approximately 1,200 students. There are some high-tech businesses in Narvik (among them Natech and Scancell).
Narvik was one of the first areas in the world to be affected by the Late-2000s financial crisis. It lost $18 million in August 2007 after it invested in Citigroup securities. As the Norwegian government refused to bail them out, Narvik was forced to implement severe budget cuts.
Read more about this topic: Narvik
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)