A lot of things are easier if the state owns a fund valued at approximately 2000 billion dollars and you only have to share that between ~5 million people. [0]
It's a crazy amount of money. In 2017 that fund owned 1.38% of the global stocks. I heard at some point they had trouble because they couldn't use the money to build roads or whatever without affecting the global economy.
That helps, no question. But the causality is the wrong way around. Norway had that fund in the first place because they are a sensible country that made good decisions. Their government clearly functions at a level the US today can only dream of - where they can barely agree on not shutting down every time they near the debt limit. Here in Canada we're maybe a little better off, but not close to Norway.
It's a crazy amount of money. In 2017 that fund owned 1.38% of the global stocks. I heard at some point they had trouble because they couldn't use the money to build roads or whatever without affecting the global economy.
[0]: https://www.nbim.no/