Reposted by @smellystudent.bsky.social
UK and Norway won nature's lottery in 1970 - found oil/gas in the North Sea.
UK squandered wealth, appeased corporations.
Norway levied 78% tax, took direct stake in companies.
Norway now has $1.8 trillion sovereign fund. UK has public finance crisis.
UK Govts still appeasing corporations/rich.
fortune.com
How sparsely populated Norway amassed $1.8 trillion | Fortune Europe
Launched in the early 1990s to invest mostly in bonds, the fund has grown to become the largest of its kind by acquiring small equity stakes in thousands of companies across the world.