Is an American sovereign wealth fund such a bad idea?

By Paddy Hirsch,

Wailin Wong, Angel Carreras, Kate Concannon

Published October 1, 2024 at 7:08 PM EDT

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?

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Paddy Hirsch

Wailin Wong

Wailin Wong is a long-time business and economics journalist who's reported from a Chilean mountaintop, an embalming fluid factory and lots of places in between. She is a host of The Indicator from Planet Money. Previously, she launched and co-hosted two branded podcasts for a software company and covered tech and startups for the Chicago Tribune. Wailin started her career as a correspondent for Dow Jones Newswires in Buenos Aires. In her spare time, she plays violin in one of the oldest community orchestras in the U.S.

Angel Carreras

Angel Carreras is an assistant producer for The Indicator from Planet Money. He is a Bakersfield-raised, Cal State Long Beach graduate. He previously worked at KCRW, the NPR member station in Los Angeles. He has produced award-winning and character-driven work, with subjects that have included masked puppeteers, mutual aid groups, and community activists.

Kate Concannon

Kate Concannon is the Supervising Senior Editor at The Indicator from Planet Money. She leads this small, collaborative team of hosts, reporters and producers in making sense of crucial, but often complex and confusing, economic news in just 10 minutes a day.