Book launch and Reception: 'Citizens' Wealth'
The Rhodes Trust, University of Oxford
How can it be that more governments are wealthier than ever, and yet fewer citizens enjoy the benefits that such wealth can bring?
Never before have so many governments owned so much wealth in the form of financial assets amassed in state-controlled investment funds. Despite the rapid rise of 'sovereign wealth funds’, now in over 70 countries, the effects of the 2008 crash are still being felt. Inequality has increased, growth remains elusive and poverty is on the rise globally.
Creating an additional source of public revenue by turning states into wealth-owners is a long-established idea. The advent of sovereign funds turns this aspiration into reality. And yet, we are still to see this powerful tool used to its full potential, and in the proper service of its rightful beneficiaries – the people.
Dr Angela Cummine will outline the key measures identified in her new book to ensure that the management of sovereign funds truly reflects, promotes and protects the interests and values of their citizen-owners.
Dr Angela Cummine is a British Academy postdoctoral fellow in the department of politics and international relations, Oxford University. A political theorist with expertise in the governance of state-owned assets and economic inequality, she divides her time between Oxford, UK, and Harare, Zimbabwe.
'Citizens' Wealth' book launch at Rhodes House, OxfordSpeakers: Charles R. Conn Download: (22.7MB)