It kind of seems that every single Norwegian has, essentially, won the lottery. In the 1960’s, huge oil reserves were discovered under the North Sea, and in 1990, the government declared that their oil wealth should be used to develop a qualitatively better society, defined as “greater equality”. The industry was put under democratic control with the public owning nearly 70 percent of the profits, and the world’s biggest sovereign wealth fund was created from the revenues of their vast North Sea oil reserves. Today, the fund is valued at over $800 billion U.S. dollars….that’s with a “b”….and in a country with a population of only 5 million. Do the math. The fund, which owns an average of 1.3% of every listed company on the planet, is integrated into Norway’s fiscal budget, of which 4 percent of the fund’s assets can be spent each year by the government.

And that’s not all. Norwegians enjoy the highest standard of living in the world’s most well-functioning and stable country in the world. They have an advanced education system in which public education of grades one through ten are compulsory and higher education is free, resulting in an extremely literate, affluent, well-educated population. The crime rate is one of the lowest in the world, as well as their unemployment rate and extremely low poverty level. Norwegians share a commitment to equality and democracy, believing no one is better than anyone else, with little gap between the rich and the poor. They are intensely independent and self-reliant, eschewing the European Union in favor of autonomy and, despite their oil wealth, the country is not a member of OPEC.

The Norwegian government has engineered a society where men and women are expected to have equal domestic and economic responsibility, and fosters an excellent work-to-life balance with superb parental benefits. Working new mothers receive 46 weeks off for maternity leave with full pay, or 56 weeks with 80 percent pay, as well as paid time off from their job if their child is sick. Even new fathers are entitled to a liberal compulsory paternity leave of fourteen weeks, to encourage men to share the role of caregiver at home.

This is a slower-paced country with great emphasis on family and the enjoyment of leisure time. There are 25 days of paid holiday per year, plus most jobs have an additional 8-12 public holidays. And, as it has been proven that cows with less stress produce better milk, even dairy cows are entitled to 6 weeks of holiday per year, and some are provided mattresses to sleep on to enhance their comfort. Extreme nature lovers, Norwegians take great pride in being sporty and fit, and benefit from a universal free health care system.

In this highly developed welfare state with a distinct and comprehensive social security system, they do well because of a small, homogenous population fueled by fluctuating oil money, free markets, and a mindset of equality, despite high taxes and an exorbitant cost of living. If it all sounds too good to be true, it may just be…