Hacker News Reader

They need laws saying that they (the country) can only spend the income (at most). Pass it now while a different generation is in power. Require a massive majority to amend it.

For individuals, there should be a universal basic income but it should only put you at lower middle class.

Education should be free.

View on HN

Education is free in Norway, including university education. There's already fairly strong structural and cultural protections against just spending the fund. What might become more critical is when the oil revenue really does decline over the next 50-100 years.

The government may only use 3% of the income from the oil fund. This law is in place since 2001. https://en.m.wikipedia.org/wiki/The_budgetary_rule

Education is free. Whether one considers the social support to be UBI is a matter of debate, I guess, but right now it would leave you decidedly poor/low-class.

Reply on news.ycombinator.com