That’s what I’m thinking, that in the right hands a sovereign wealth fund would give the government a more subtle and possibly more effective means to acquire controlling stakes in various corporations than eminent domain.
I’m concerned that the effect would be less of “having a controlling share in many companies” and more “having your fund be deeply tied to the success of these companies”.
If the size of the fund becomes a metric of success, whoever is in charge of it is going to be disinclined to force a company to make an unprofitable choice, even if it’s the right thing to do.
That’s what I’m thinking, that in the right hands a sovereign wealth fund would give the government a more subtle and possibly more effective means to acquire controlling stakes in various corporations than eminent domain.
I’m concerned that the effect would be less of “having a controlling share in many companies” and more “having your fund be deeply tied to the success of these companies”.
If the size of the fund becomes a metric of success, whoever is in charge of it is going to be disinclined to force a company to make an unprofitable choice, even if it’s the right thing to do.
Let’s be real none of the money that Elon Musk is adding to his pile is going to help people.