, Columnist
The U.S. Would Benefit From a Sovereign Wealth Fund
A national investment portfolio would ease two persistent problems highlighted by the coronavirus pandemic.
Think of a national Robin Hood.
Photographer: Fox Photos/Hulton Archive/Getty Images
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To support businesses and individuals through the coronavirus lockdown, the U.S. could use a sovereign wealth fund, and there’s no better time to get started.
A sovereign wealth fund is essentially an investment portfolio owned by the government. Scores of countries, and even some U.S. states, have one. They’re used for various purposes, such as stabilizing government revenue or saving for the future. Norway’s sovereign wealth fund, which is technically two separate funds, is the largest and best known, with assets of roughly $1.1 trillion.