Social wealth funds could be given incentives to act as patient, long-term capital. Photo: iStockphoto Matt Bruenig of the People’s Policy Project recently wrote an article in The New York Times suggesting a policy idea that seems extremely promising and woefully overlooked. That idea is what Bruenig calls a social wealth fund—a government-owned portfolio of stocks, bonds and real estate whose dividends would be paid out directly to the citizenry.
This is similar to what economist Miles Kimball and others have been calling a sovereign wealth fund, which is the typical name for funds that some natural-resource exporters use to […]
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