The case for citizens' wealth funds

Stewart Lansley, Duncan McCann and Steve Schifferes

International Journal of Public Policy, 2019, vol. 15, issue 1/2, 136-152

Abstract: Citizens' wealth funds (CWFs) can be a key tool in tackling the growing disparity of wealth between the public and private sector and helping improve inter-generational fairness. They can also be a powerful pro-equality force. Such funds would be commercially managed and independently run, but held in trust for the public, with the dividends but not the capital used for social purposes. Some governments (including Singapore, Alaska, Australia and Norway) have successfully built up large funds, using the proceeds of natural resource extraction or privatisation. Getting public buy-in is the key to the success of such funds - and some of the most successful hypothecate the revenues to specific aims, for example a citizen's annual dividend (a kind of basic income) or to pay government pensions.

Keywords: citizens' wealth fund; CWF; sovereign wealth fund; basic income; public wealth; public sector assets; North Sea oil; inequality; inter-generational equality; privatisation; Australia's future fund; Temasek. (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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