Working Paper
Inequality, Public Wealth, and the Federal Shareholder
Giacomo Corneo
CESifo, Munich, 2016
CESifo Working Paper No. 5861
CESifo, Munich, 2016
CESifo Working Paper No. 5861
Current trends in the distribution of wealth trigger a social divide and threaten democracy. I propose to counter this evolution by enhancing the role of public capital as a redistribution and empowerment device. The governance of public capital requires two novel institutions: a socially responsible Sovereign Wealth Fund and a Federal Shareholder. This paper offers an account of their design and sources of financing.
CESifo Category
Public Finance
Social Protection
Public Finance
Social Protection
Keywords: public ownership, redistribution
JEL Classification: H000, H500