| What do Malcolm Turnbull, the International Monetary Fund and Bob Brown have in common? All tout the wisdom of sovereign wealth funds, increasingly the motherhood statement of economic policy.
Western Australia's Premier Colin Barnett joined the throng this week, promising his state, flush with cash from mineral royalties, would set up such a fund to ensure "future generations have a legacy" from the "finite resources available at present". A political panacea, too, they are meant to curb the severity of recessions and take the wind out of soaring currencies that hobble local manufacturers...............................................Full Article: Source
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