Part 10/14:
Bootstrapping local wealth funds offers a practical pathway: counties and states can convert dormant assets—like corporate shares, land, and natural resources—into perpetual income streams. Tax incentives for local companies and aggregation of collective assets create a bottom-up approach to building a nationwide post-labor safety net without accruing excessive debt.
Managing Risks: Failure Modes and Political Challenges
The transition is fraught with risks that could derail progress:
Rapid automation may outpace adaptation, leaving households income-starved.
Elite wealth capture could skew dividends and wealth distribution toward the already wealthy.
Policy paralysis rooted in partisan gridlock may delay necessary reforms.