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Thanks for the rant! Norway is usually held up as the singular exception of the Resources Curse of oil because of its long-term commitment to a Sovereign Fund.

Thanks for the rant! Norway is usually held up as the singular exception of the Resources Curse of oil because of its long-term commitment to a Sovereign Fund. Interesting to see that this is true, but kind of exists within the boundaries of the welfare-state-in-an-aging-society system.

lb1lf 9y ago
I guess (mind, guess) is that the reason we did prove somewhat of an exception is that we had established an efficient (as such things go...) state in which the electorate trusted PRIOR to hitting the hydrocarbon jackpot. Also, it probably helped that we were a society with (relatively speaking) small differences and no real tradition for a pronounced upper class. This, however, is just unfounded musings on my behalf.