The impact of Artificial Intelligence on the distribution of income, wealth and power will very likely reinforce the tendency toward increasing inequality that has characterised our societies in recent decades. Several proposals have emerged to address this issue, from Bernie Sanders’ one-time 50% tax on the stock of the biggest AI companies to Sam Altman’s (OpenAI) 5% voluntary contribution. What most of these proposals have in common is the establishment of a Sovereign Wealth Fund. Once seen as a financial instrument for petrodollar monarchies, SWFs today represent a valuable economic policy tool for social justice. This working paper – written with co-authors Giacomo Corneo and Pierluigi Vellucci – shows how to establish a sovereign wealth fund without relying on natural resource revenues or foreign-exchange reserves. More importantly, it addresses the uncertainty in investment returns to provide a credible path to establishing a SWF within a Shareholder Socialism framework, in the span of a single generation. Here is the link.