Comment by raheemm

If you compare Norway to the UAE (which includes Dubai, Abu Dhabi, etc) while Norway is investing its oil wealth in a sovereign fund, UAE is investing in real estate, tourism and other sectors. Both have rich social safety nets. In this way, both these energy exporting nations are smart in reinvesting/saving today's surplus. One interesting difference is that UAE is a federation of fairly autonomous states or emirates. So some states are already in the post-scarcity era (Dubai) while other states are still in the surplus era (Abu Dhabi, Ras Al Khiamah, etc). It makes for an interesting economic development scenario.