@billseitz @akkartik just for the record, i don’t support debt-financed purchase of equities into a SWF by the state. it was Cowen’s thought experiment, and in an earlier draft i had an caveat explanation paragraph, but i thought it diluted the main idea of the piece. i would support equity or investment more broadly purchases by a progressive-tax financed SWF. but not by debt or money issuance, except under very particular circumstances.

@billseitz @akkartik (i've added back my caveat paragraphs as an appendix-style update to the post, fwiw. thanks both of you for all the feedback!)