Comment by NewJazz
Norway is a petro-state that managed to amass a national wealth fund. Cherish what you have. Understand that it doesn't necessarily translate to every community.
Norway is a petro-state that managed to amass a national wealth fund. Cherish what you have. Understand that it doesn't necessarily translate to every community.
If this is your take, you've missed the point. I said there is no reason good bits can't be adapted to one's society. it isn't that one system will work for everywhere or that it'll even look the same. Some things are unique to Norway, but other things definitely are pretty widespread.
You see this with healthcare in different places: Details change and sometimes it is lacking, but lots of places offer healthcare to its citizens that is low-cost to free when you need it. There is a lot of variation in what countries can do. Some places are poor but still manage to a point. Some places just refuse, like the US - heck, the US has oil and could have funded things for its citizens and keeps bragging about being rich, but they aren't gonna use it for the immediate welfare of its citizens.
Americans pay more for worse outcomes, so this is clearly a political/priorities issue, not an issue with wealth.
Other counterexamples are the other European countries with the same safety net which are not petro states (they do have colonial wealth though).
A lot of this was possible because of high corporate taxes and high marginal taxes on high incomes, so in theory this model could apply in most places.