Right. 
But I feel it is a novel idea. 
If only we had started earlier.

Probably Norway. It's an oil state, like Alaska. There very well may be good arguments that taxing oil revenues to finance a sovereign wealth fund could enhance the prosperity of that nation/state's citizens. Although, again, it would be better to just give people the money directly.

Undisciplined

I remember hearing sweden, finland, or norway had one?
Theirs seems to be working, right?


Satosora

econ

The Comic Absurdity of a US Sovereign Wealth Fund

We'd have to be really clear about what "work" means, in this context. 

For reasons laid out in this article, they really can't work from the standpoint of improving overall well-being, compared to just taxing people less. Compared to other government spending, though, I'm sure they can look very effective.

The only one I know much about is Alaska's Permanent Fund. For most of it's history, the fund managers have earned very nice returns and it's funded by taxes on oil development, rather than direct taxes on the residents.