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Sovereign wealth funds as ‘social control of public wealth’

Posted on 08 September 2011

The Greens are big supporters of making greater use of sovereign wealth funds. This op-ed in The Age helps explain the appeal of sovereign wealth funds to the left: contemporary Left thinkers have increasingly argued that the ‘‘financialisation’’ of society - the replacement of government-funded retirement with individually-funded savings invested in financial markets, the privatisation of core services, the increasing ownership of society by hedge funds and the explosive use of credit - needs some tempering through social control of public wealth.
That could come through government ownership of vehicles such as sovereign wealth funds……………………………………….Full Article: Source


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