This podcast episode discusses the proposal of an American sovereign wealth fund, prompted by a recent executive order. The hosts present contrasting viewpoints from economists Tyler Cowen, who deems the idea absurd given the U.S.'s current deficit, and James Brule, who suggests alternative funding mechanisms and argues for its potential efficiency benefits over Congressional spending. The discussion highlights the challenges of establishing such a fund, including potential political interference and the need for Congressional approval. The Texas Permanent School Fund serves as a real-world example of how even well-intentioned funds can be subject to political influence and redirection of funds. Ultimately, the episode leaves the listener with a nuanced understanding of the complexities and potential pitfalls of creating a national sovereign wealth fund in the United States.
