Saturday August 8, 2020

Aidan Regan: A people’s wealth fund would create income equality for everyone

An entrepreneurial state, willing to act as investor on behalf of its citizens, could create a fund the object of which would be to give everyone an inheritance

12th July, 2020
Time is the crucial variable when it comes to understanding cumulative growth and wealth inequality

Compound interest is the eighth wonder of the world. Those who understand it, earn it. Those who don’t, pay it. So said Albert Einstein, apparently. It may well have been a clever advertising quip by Don Draper in the American TV show, Madmen. Compound interest is basic mathematical arithmetic, but it is extraordinarily powerful when it comes to money. It is the basic method of how investors get rich. It is time for the state...

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