Is the Norwegian Oil Fund a Socialist Idea?
Or is it simply prudent capitalist thinking put into practice?
10 min readJan 14, 2021
Recently I wrote about what happens when Norway runs out of oil? Will it be the end of the social democracy and the welfare state? In it I discuss how Norway stashed away oil money for a rainy day, what is known as the Norwegian Oil Fund worth of a trillion dollars.
Not everyone agreed in my characterization of countries and states following capitalist ideology blowing their money instead of saving it. Jim Roye writes:
