Honestly, I think part of it is that the American left hasn't been able to market the ideas in a way that sounds good to American's ears.
For example: both Japan and Norway have funds that invest money in order to pay for things like their country's pension system. Now, Norway seems like a pretty small country, right? But their current pension fund is worth $1,259,629,434,000. That's second only to the Chinese Investment Corporation, which is worth $1,350,863,000,000.
Yes, the Norwegian pension fund is worth about as much as the entire Chinese investment fund, despite having a population of only 5 million people! The Sovereign Wealth Fund is perhaps one of the biggest success stories mixing capitalistic investment with public sector benefits.
There's no reason the US couldn't create their own system. It's free market! It's socialism! It's got all the wonderful returns wall street loves! It's hyper individualistic! It's a huge benefit to the taxpayer! And best of all...
It works! I mean, if Norway can do this, the US absolutely could.
Per capita, Norway is sitting on a shitload of oil. In fact, they're the one country with fabulous oil wealth that is the exception to the rule of what happens when a country has a boatload of oil.
...did forget to mention that for each child, parents receive 390 days of paid leave...
Honestly, I think part of it is that the American left hasn't been able to market the ideas in a way that sounds good to American's ears.
For example: both Japan and Norway have funds that invest money in order to pay for things like their country's pension system. Now, Norway seems like a pretty small country, right? But their current pension fund is worth $1,259,629,434,000. That's second only to the Chinese Investment Corporation, which is worth $1,350,863,000,000.
Yes, the Norwegian pension fund is worth about as much as the entire Chinese investment fund, despite having a population of only 5 million people! The Sovereign Wealth Fund is perhaps one of the biggest success stories mixing capitalistic investment with public sector benefits.
There's no reason the US couldn't create their own system. It's free market! It's socialism! It's got all the wonderful returns wall street loves! It's hyper individualistic! It's a huge benefit to the taxpayer! And best of all...
It works! I mean, if Norway can do this, the US absolutely could.
Per capita, Norway is sitting on a shitload of oil. In fact, they're the one country with fabulous oil wealth that is the exception to the rule of what happens when a country has a boatload of oil.
True, but the SWF is not funded by oil for the most part, but by worldwide investment, since it's one of the biggest mutual funds ever created.
The US is also sitting on oil, but it's a different story.
In any case, the US loves itself some mutual funds.