Norway? No way!
The idea of copying the Norwegian example of an SWF in New Zealand is simple, tempting, attractive – and wrong. [...]
Norway
Christmas pudding without butter
Milton Friedman once quipped that if you put the government in charge of the Sahara Desert, there would be a shortage of sand within five years. In the very same way, an interventionist and protectionist government can create a staple food shortage even in the most highly developed nation on the planet. [...]
Australia’s Norwegian doppelganger
The much praised Norwegian SWF may not be as shining an example as it first appears. Australia is well advised to think twice before following the Norwegian model. And, in any case, before it can ‘save’ any money, the Australian government should first reduce its $42 billion budget deficit. Otherwise Australia could end up looking like some entirely different European countries. [...]