Greg Poelzer spoke with the CBC about his recent report detailing the success of Norway’s sovereign wealth fund and how Canadian governments could learn from its example.
“For sure, it’s the most successful”, said Poelzer of Norway’s fund.
Poelzer is the author of “What Crisis? Global lessons from Norway for energy-based economies”.
The paper argues that Canada should follow Norway’s example by taking natural resource revenues out of the hands of free-spending politicians and place them into investments that can be used over the long-term.
Poelzer, who is also a professor with the Johnson-Shoyoma Graduate School of Public Policy, told the CBC that it’s one of the best ways to stabilize an economy that depends on natural resource revenues.
“You don’t have this overheating”, Poelzer said. “You don’t have a super-high inflation and you also avoid, especially with government budgets, the roller-coasters which we’re seeing in Alberta right now”.
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Poelzer is also the author of a column on the subject for the StarPhoenix and previously appeared on the CBC program the Exchange with Amanda Lang.