September 28, 2022

Adam Smith And The Wealth Of Nations – ASI colleague Nigel Hawkins shared £600billion in assets owned by the Government but never subjected to a market test. The newspaper advised starting by selling 10% of the wealth, putting it through the market test and seeing if it’s the best use, and also giving money to the rich to help reduce the national debt A new book, The Public Wealth of Nations, written by Dag Detter and Stefan Fölster, argues many of the same points – albeit with a much broader scope and deeper focus. The text of the book reads:

If you look around the world, it’s almost as if the Thatcher/Reagan economic revolution never happened. The largest pool of wealth in the world — a global sum twice the sum of the world’s retirement savings and 10 times the sum of all sovereign wealth funds on the planet — is still made up of corporate assets that are publicly owned. . And while this is the largest pool of wealth in the world, it’s also one of the most opaque – what’s going on in it is often not even known to the governments that own it. In most countries, this large portfolio is both a financial and a political burden on society. If managed professionally, it can generate $2.7 trillion in annual revenue, more than current global spending on infrastructure: transportation, energy, water and communications.

Adam Smith And The Wealth Of Nations

Adam Smith And The Wealth Of Nations

Is there a reason why hospitals should own their buildings instead of leasing them on long-term contracts? Except for a few historically significant sites, the same cannot be said for most public goods. And how do we know if an army barracks is well positioned if the army isn’t competing for it with other users?

Amazon.com: The Wealth Of Nations: Complete (royal Collector’s Edition) (case Laminate Hardcover With Jacket): 9781774761946: Smith, Adam: Books

The authors reiterate their argument in a Citigroup memo (pdf) with an introduction by Willem Buiter on their plea for the transfer of state ownership to a well-managed sovereign wealth fund.

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