linguistic:voice_change
Post–World War II history

From 1945 to 1962, the Labour Party held an absolute majority in the parliament. The government, led by prime minister Einar Gerhardsen, embarked on a programme inspired by Keynesian economics, emphasising state financed industrialisation and co-operation between trade unions and employers' organisations. Many measures of state control of the economy imposed during the war were continued, although the rationing of dairy products was lifted in 1949, while price controls and rationing of housing and cars continued until 1960.

The wartime alliance with the United Kingdom and the United States continued in the post-war years. Although pursuing the goal of a socialist economy, the Labour Party distanced itself from the Communists, especially after the Communists' seizure of power in Czechoslovakia in 1948, and strengthened its foreign policy and defence policy ties with the US. Norway received Marshall Plan aid from the United States starting in 1947, joined the Organisation for Economic Co-operation and Development (OECD) one year later, and became a founding member of the North Atlantic Treaty Organization (NATO) in 1949.

Oil was discovered at the small Balder field in 1967, but production only began in 1999. In 1969, the Phillips Petroleum Company discovered petroleum resources at the Ekofisk field west of Norway. In 1973, the Norwegian government founded the State oil company, Statoil (now Equinor). Oil production did not provide net income until the early 1980s because of the large capital investment required. Around 1975, both the proportion and absolute number of workers in industry peaked. Since then labour-intensive industries and services like factory mass production and shipping have largely been outsourced.

Norway was a founding member of the European Free Trade Association (EFTA). Norway was twice invited to join the European Union, but ultimately declined after referendums that failed by narrow margins in 1972 and 1994.

In 1981, a Conservative Party government led by Kåre Willoch replaced the Labour Party with a policy of stimulating the stagflated economy with tax cuts, economic liberalisation, deregulation of markets, and measures to curb record-high inflation (13.6% in 1981).

Norway's first female prime minister Gro Harlem Brundtland of the Labour Party continued many of the reforms, while backing traditional Labour concerns such as social security, high taxes, the industrialisation of nature, and feminism. By the late 1990s, Norway had paid off its foreign debt and had started accumulating a sovereign wealth fund. Since the 1990s, a divisive question in politics has been how much of the income from petroleum production the government should spend, and how much it should save.

In 2011, Norway suffered two terrorist attacks by Anders Behring Breivik which struck the government quarter in Oslo and a summer camp of the Labour party's youth movement at Utøya island, resulting in 77 deaths and 319 wounded.

Jens Stoltenberg led Norway as prime minister for eight years from 2005 to 2013. The 2013 Norwegian parliamentary election brought a more conservative government to power, with the Conservative Party and the Progress Party winning 43% of the electorate's votes. In the Norwegian parliamentary election 2017 the centre-right government of Prime Minister Erna Solberg won re-election. The 2021 Norwegian parliamentary election saw a big win for the left-wing opposition in an election fought on climate change, inequality, and oil; Labour leader Jonas Gahr Støre was sworn in as prime minister.