In this next set of Notes on Inequality, I explore how natural resource wealth shapes distribution. Across countries the same resources have led to very different outcomes – shared prosperity in some cases, concentration in others.
So, let me start with the first post. Post 1. ( #15.1).
Natural Wealth – When Shared.
The Inclusive Model.
In 1969, Norway discovered oil in the North Sea – the Ekofisk field, one of the largest finds of its time.
In 1990, the Norwegian Parliament made a remarkable decision : every krone earned from oil would go into a sovereign fund – today known as Oil Fund.
It quietly bought stakes in thousands of companies across the world. Today, this fund is worth nearly $2 trillion – owned collectively by just 5.6 million
Resource wealth is channelled through strong public systems like healthcare, education, and social security.
Instead of concentrating wealth, it spreads the benefits across society.
Resource wealth can unite if designed to include all.
Part of a 4 – post series on resource wealth & inequality.
I explored Norway in a more detailed post on May 28.
