Wood engraving of the Treasury Department building in Washington, D.C. The American Cyclopædia / Wikimedia Commons. Should the government acquire a portfolio of stocks and bonds, in the name of the people? One model championed by Jacobin writer Matt Bruenig is a “social wealth fund” (SWF), also known as a sovereign wealth fund. Bruenig’s preferred use for such a fund is to finance a Universal Basic Income (UBI), but other types of expenditures are conceivable. I’m not here to trash the proposal, but I do see some misperceptions surrounding it.
For socialists who want the means of production to come […]
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