Manage episode 192349695 series 1405629
Many nations sit on some form of natural resource wealth and, as is their right, they will exploit that wealth. The windfall is often spent nearly as quickly as it is earned with few able to exercise sufficient restraint to save some for a rainy day.
This short-termism is most prevalent in democracies where a dollar saved for another day is often a dollar that can be used to entice someone to vote for you.
Norway is a shining example of why a more long-term is so beneficial. The Norwegian Sovereign Wealth Fund recently surpassed a total value of $1 trillion despite only being a few decades old.
In this episode I'll explore more of why it is so special, with only a slight hint of envy.
The evil villain demanding 100 billion dollars is Dr. Evil played Mike Myers in Austin Powers: International Man of Mystery (1997).