Denmark, Finland, Norway, and Sweden spend 25-30 per cent of GDP on public social services, well above the OECD average of 20 per cent. Residents receive cradle-to-grave welfare like universal healthcare, subsidised childcare, strong unemployment insurance, and clean air. Nordic countries lead the UN’s World Happiness Report rankings. Explanations like good governance, social trust, and progressive taxation only partially account for their success; the origin of their resources is overlooked.
The Oil Fund and Its Origins
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