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To be fair to countries that are not Norway, my understanding is that their sovereign wealth fund is significantly funded by their oil fields. (Otherwise, 100%
by danaris 1y ago
To be fair to countries that are not Norway, my understanding is that their sovereign wealth fund is significantly funded by their oil fields.
(Otherwise, 100% cosigned.)
- bruce511 1y agoAbsolutely true. Although lots of countries have oil, and derive profits from it, Norway (as far as i know) was unique in not spending that income, but rather creating the sovereign wealth fund. That long-term thinking, which was fundamentally socialist not capitalist though, is exactly what puts them in such a strong position now.