15.09.2011 - Australia's Future Fund: A complex beast of good and bad
The Future Fund is a complex beast because it combines two ideas, one good and one bad. Some form of compulsory savings vehicle is, on balance, a good idea. Not because bureaucrats know better than private individuals how their own money should be spent, but because it reduces the temptation to operate Ponzi schemes this is the situation where old investors are paid from contributions by new investors. This sort of scheme is common in public finances around the world and will become an ever-increasing burden on future taxpayers..............................................Full Article: Source
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