National Dividend Funds

Liam Epstein proposes that the U.S. establish a strategic sovereign wealth fund to acquire minority equity stakes in frontier AI firms and upstream infrastructure such as semiconductors and energy. The fund would aim to secure durable democratic influence over AI development, capture a share of AI-generated economic rents, and distribute returns through universal basic dividends modeled on Alaska’s Permanent Fund. He argues that public ownership provides a more resilient and institutionally durable lever than regulation alone for shaping AI trajectories and translating productivity gains into broadly shared prosperity.

Recognizing that AI-driven displacement and value creation are inherently borderless, Yelizarova argues for the need for a global institution capable of sharing prosperity across national boundaries. She explores the concept of a “global dividend”: a legally protected, supranational vehicle — potentially resembling a sovereign wealth fund — with fiduciary duties to humanity as a whole. Drawing on the Windfall Clause while moving beyond its limits, she examines a range of mechanisms for capturing AI-driven surplus, including equity stakes, automation-linked taxation, conditional profit-sharing commitments, and access or licensing-based contributions.