Aug 30, 2012

Norway - how much can its citizens get?

If Norway becomes a citizen-ownership democracy, how much can its citizens get?

Norway has a population of 5 million.

Norway's sovereign wealth fund ( The Government Pension Fund - Global, Statens pensjonsfond - Utland, SPU) is estimated at $ 500 billion. "The Norwegian Ministry of Finance forecasts that the fund will reach NOK 4,334.3 billion ($717 bn) by the end of 2014 and NOK 6,065.7 billion ($1,003 bn) by the end of 2019[4]. In a parliamentary white paper in April 2011 the Norwegian Ministry of Finance forecast that the 2030 value of the fund would be NOK 7,400 billion ($1263 bn)."

Assuming the current number of $500 billion, each citizen's share of the sovereign wealth is $100,000. Assuming 3% investment return, each citizen should get $3000 per year. As the fund increases with more oil revenues, the citizen-ownership income should increase as well.

Again, we are looking at very substantial amounts of citizen-ownership income. Are the Norwegians ready for a citizen-ownership democracy?

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