| A sovereign fund offers Labor a chance to reconcile its traditional ideology of fairer wealth distribution with its modern deference to free market principles. It is a vehicle for intergenerational equity, spreading resource profits between current and future Australians, while also a prudent fiscal tool that takes temporary tax revenues from a finite resource and turns them into permanent financial assets augmented by investment in capital markets.
What could offer a better blend of old and new Labor philosophy – a model of egalitarian wealth distribution compatible with a capitalist economic system..............................................Full Article: Source
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