Learning by failing. The origins of the Norwegian oil fund

Abstract

The Norwegian Government Pension Fund, established in 1990, is the world largest sovereign wealth fund. The structure of the fund and its relationship to long term fiscal policy is widely recognized as a successful means to distribute Norway’s resource gains between generations and protect the relatively small Norwegian economy from a too rapid spending of the present riches. 

This paper examines why and how the fund got its characteristics, based on public debate and 
material from Government archives.

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This BLOG  looks at pensions and their impact on what are called Public Private Partnerships or P3’s these are not really about private funding at all but about two streams of public funding, pensions and government with private capital a third partner.
We will also deal with other pension matters, such as Defined Contribution Plans (DC) vs Defined Benefit (DB) PLANS, the weakness in private plans, the need for pension reform in public pensions to have shareholder rights, directorships and ethical investment directives and policies. 
Finally taking the long view we will show how these funds are forms of evolving social capital that is dominating private capital as we evolve into socialization of capital. 
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