The sovereign wealth funds of the Nordic countries weren't built with tax dollars, but rather with oil revenue. We could do the same thing here if there were political appetite for holding energy companies responsible and the wealth they produce as belonging to the people living on the land the resources are coming out of.
We're doing better now than we were 50 years ago, but the Nords are light years ahead.
Norway is basically anything but the Saudi Arabia of Europe. The ONLY thing that is similar is that they both have oil and natural gas in their territory.
Well they do both have monarchs! Though the royal palace in Oslo is a public park. As I was strolling the park, to my surprise I attended a quick fanfare as the king left his palace and his driver (I presume) almost ran over a dumb kid that darted in front of the royal sedan. then at the end of the royal avenue, at the foot of the most glorious mathematician sculpture, the royal sedan turned a corner directly into rush hour traffic, which his highness had to endure just like the rest of us commoners.
What a lovely anecdote, I've been to the royal park in Oslo once and it's gorgeous!
As an Austrian, I personally prefer to look at my royals in the catacombs of St. Stephens Cathedral though ;)
We're doing better now than we were 50 years ago, but the Nords are light years ahead.