Norway's development model is different from that of the United States. After the test of the financial tsunami, Norway's thinking shows its superiority. The American model emphasizes consumption, consumption without money and encourages debt consumption to stimulate the economy. Norway, on the other hand, does not spend money indiscriminately, but uses it for rational investment. The money of Norwegian sovereign fund mainly comes from oil income, and it has made strict and rational investment and consumption plans for itself. The fund is mainly used as an investment conducive to future development, and only 4% of the total fund is allowed to be used for government expenditure every year. This 4% is the expected annual rate of return of the fund, that is, it only consumes interest and does not use the principal. It is precisely because Norway holds a large amount of investment principal that after the financial tsunami caused the world stock market to plummet, Norway took the opportunity to "bargain-hunt" and bought huge low-priced and high-quality stocks, which greatly increased the value of Norwegian sovereign funds.
In addition to the differences in consumption and investment, the Norwegian model also shows differences from the American model in two other aspects. One is the proportion of Norwegian state-owned enterprises in the economy; The second is Norwegian values on social development and social justice.
In short, the "Norwegian model" is a unique economic feature of Norway, which has been proved to be very successful in practice.