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Inequality, Public Wealth, and the Federal Shareholder

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  • Giacomo Corneo

Abstract

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.

Suggested Citation

  • Giacomo Corneo, 2016. "Inequality, Public Wealth, and the Federal Shareholder," CESifo Working Paper Series 5861, CESifo.
    • Handle: RePEc:ces:ceswps:_5861
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    Cited by:

    1. Clemens Fuest & Christa Hainz & Volker Meier & Martin Werding & Giacomo Corneo & Hans Peter Grüner & Dennis Huchzermeier & Bert Rürup & Andreas Knabe & Joachim Weimann & Christine Bortenlänger & Donat, 2019. "Staatsfonds für eine effiziente Altersvorsorge: Welche innovativen Lösungen sind möglich?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 72(14), pages 03-24, July.
    2. Jorge Carrera & Gabriel Montes-Rojas & Mariquena Solla & Fernando Toledo, 2023. "Does Income Inequality Affect Capital Flows? Evidence from Emerging Markets and Developing Economies," Working Papers 268, Red Nacional de Investigadores en Economía (RedNIE).

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    More about this item

    Keywords

    public ownership; redistribution;

    JEL classification:

    • H00 - Public Economics - - General - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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