Discussion paper

DP10920 Inequality, Public Wealth, and the Federal Shareholder

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.


Corneo, G (2015), “DP10920 Inequality, Public Wealth, and the Federal Shareholder”, CEPR Press Discussion Paper No. 10920. https://cepr.org/publications/dp10920