29.08.2013 - The problems inherent in plans for a UK sovereign wealth fund
One of the features of economics is the way that ideas get recycled, repackaged and then re-presented. Sometimes this is a good thing as life can be circular and human behaviour changes much less than we might like to think over time. However it is also true that the boat can have sailed and we have simply missed it. This was my major thought when I saw proposals for the UK to create a Sovereign Wealth Fund. After all we would need some sovereign wealth would we not? An opportunity to create a Sovereign Wealth Fund was available around 30 years ago if we had used part of the North Sea Oil revenues for this purpose...............................................Full Article: Source
Print