Is an American sovereign wealth fund such a bad idea?

Sovereign wealth funds have been around since the 1800s, but they're having a bit of a moment right now ... The financial instrument was recently name-dropped in HBOs 'Industry' (good show!) and members of both the Biden administration and the Trump campaign have floated the idea of an American sovereign wealth fund. That idea, for the most part, has been derided by economists. But... is an American sovereign wealth fund such a bad idea?On today's show: What IS a sovereign wealth fund? Is a US national sovereign wealth fund a good or even viable idea?Related Episodes:Why oil in Guyana could be a curseThe boom and bust of esportsFor sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org. Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter. Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy