Off you go… into the purple yonder!

The New York Times has an interesting article about how Norway is divesting some of its huge pension fund based on ethical considerations - in this particular case, Wal-mart’s turning a blind eye to child-labor at its suppliers, and its anti-union stance.

It’s refreshing to see a huge investor apply ethics deliberately. It’s also particularly refreshing to see a country actually build up a pension fund, rather than deplete it to fund budget deficits. Of course, Norway has oil so this is ‘easy’ for them - but all that extra income must make the temptation to spend it even bigger, and they are not.