Two recent proposals to establish a new US sovereign wealth fund would fail to make good on a good idea, because neither plan would produce a fund nearly large enough to meet America’s mounting financing needs. But a different approach, funded by Treasury sales, could.
LOS ANGELES/NEW BRUNSWICK—OpenAI’s Sam Altman, US President Donald Trump, US Senator Bernie Sanders, and California Governor Gavin Newsom do not agree on much, yet they have all proposed that the United States create a sovereign wealth fund (SWF), seeded by stocks from AI companies, to cope with AI’s negative impacts. It is a good idea. Unfortunately, their proposals are woefully inadequate.
LOS ANGELES/NEW BRUNSWICK—OpenAI’s Sam Altman, US President Donald Trump, US Senator Bernie Sanders, and California Governor Gavin Newsom do not agree on much, yet they have all proposed that the United States create a sovereign wealth fund (SWF), seeded by stocks from AI companies, to cope with AI’s negative impacts. It is a good idea. Unfortunately, their proposals are woefully inadequate.